The terms of the deal with EDF ENR, with whom it already owned 50 percent of Tenesol’s domestic operations, have not been announced.
But Philippe Boisseau, president of Total Gas and Power, said the agreement is a clear sign of his firm’s commitment to renewable and alternative energy.
“Completion of the deal would step up Tenesol’s international expansion by capitalizing on the expertise of its teams and strengthening synergies with Total’s other businesses,” Boisseau said.
Tenesol, which was created in 1983, is a top-tier solar energy operator in Europe, leader in the French market for large industrial and commercial photovoltaic rooftop solutions.
Tenesol designs, manufactures, markets and operates photovoltaic energy systems.
The company has a production capacity of 800,000 solar panels a year, or 170 megawatt peak2, at two plants, one in Toulouse, France, and the other in Cape Town, South Africa.
The acquisition is subject to applicable legally required processes for notifying and consulting Tenesol employee representatives and the approval of the anti-trust authorities in the countries concerned.
The transaction is expected to close by the end of the year.
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