SunPower completes Tenesol acquisition


The news, which was first announced in December, means that Total’s solar operations have now been brought under one roof, following its purchase of 60 percent of SunPower last June, for US$1.4 billion.

The deal, which was worth $65.4 million in cash, will help SunPower gain better to access to the European and, specifically, French, solar markets.

Meanwhile, Total has bought an additional 18.6 million shares in SunPower for $8.80 each. This latest transaction means that Total now owns around 66 percent of the U.S. solar company.

The news signals the fourth official takeover announcement this week. Yesterday, it was reported that LDK Solar, Bosch and Centrosolar were all been given the go ahead from the German Federal Cartel Authority with their planned and/or partial takeovers of Sunways, Voltwerk and Gecko Group, respectively.