BUZZ-Canadian Solar Inc: To buy Recurrent Energy for $265 mln

Tue Feb 3, 2015 6:01am EST
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** Canadian solar panel maker's shares up 6.9 pct at $22.80 premarket

** Company to buy North American solar energy developer Recurrent Energy LLC from Sharp Corp for about $265 mln in cash

** Canadian Solar says deal will increase its total solar project pipeline by about 4 gigawatts (GW) to 8.5 GW

** Company says it expects transaction to close before end of Q1

** Up to Monday's close, stock had fallen nearly 15 pct in past 6 months