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NEW YORK (

TheStreet

) --

Sharp

is reportedly set to buy privately held North American solar power developer

Recurrent Energy

, according to a report from Institutional Investor News'

Power Finance & Risk

.

Recurrent Energy, which is owned by Hudson Clean Energy Partners and Mohr Davidow Ventures, has a pipeline of 1.3 gigawatts of solar projects in North America.

A few months ago, solar companies

Suntech Power

(STP)

,

SunPower

( SPWRA) and

TheStreet Recommends

MEMC Electronic Materials

(WFR)

were alluded to in a press report about a potential acquisition of Recurrent Energy's solar project pipeline.

>>Solar Rumor Mill: SunPower, Recurrent Energy

An announcement from Sharp and Recurrent was expected today.

Sharp is one of the leaders in the leading U.S. solar market of California, and has been among the fastest growing players in the California market, alongside Chinese solar companies including Suntech.

>>California Solar Update: Suntech, Trina

Recurrent Energy was a recent winner in the first round of solar projects awarded by the Canadian province of Ontario in its first round of feed-in tariff supported green energy investments.

>>Ontario Adds 2.5 Gigawatts of Renewable Energy

In other solar news of note on Tuesday,

First Solar

(FSLR) - Get First Solar, Inc. Report

was awarded a 180 megawatt project in Australia, in conjunction with Australian company TRUenergy, in what is planned to be one of the bigger projects solar projects to date in Australia.

The Victorian government is committing AUD $100 million to the 180MW PV plant, though that only covers a portion of the project expense and more financing will have to be raised before the solar project can be started.

TRUenergy expects to build the plant in several stages beginning in 2012, with the fourth and final phase built by 2015, according to

pv-tech.org

.

--Written by Eric Rosenbaum in New York.

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.

RELATED STORIES:

>>Solar Rumor Mill: SunPower, Recurrent Energy

>>California Solar Update: Suntech, Trina

>>Steelworkers Union Attacks Chinese Green Energy

>>Ontario Adds 2.5 Gigawatts of Renewable Energy

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