http://www.newenergyworldnetwork.com/investor-news/renewable-energy-news/by-technology/solar/total-brings-together-solar-interests-with-sale-of-tenesol.html

 

French oil giant Tenesol has realigned its solar interests through the sale of subsidiary Tenesol to SunPower, which it brought under its roof earlier this year.

 

Silicon Valley-based SunPower will acquire Tenesol from Total for $165.4m in cash.

'Our acquisition of Tenesol is another step toward differentiating ourselves in the competitive solar market, further expanding our downstream presence and benefiting from the strong backing of Total,' said Tom Werner, SunPower president and CEO.

'We said on day one that the partnership with Total would provide strength to our balance sheet, access to new markets and investment in research and development. In six short months, we have seen these benefits accrue to SunPower.'

Tenesol has operations in 18 countries as well as manufacturing facilities in France and South Africa.