Total to buy out partner EDF in Tenesol photovoltaic business

14 April 2011 19:56  [Source: ICIS news]

TORONTO (ICIS)--French energy and petrochemicals major Total has agreed to acquire most of the operations of its Tenesol photovoltaic business with electricity giant EDF, it said on Thursday.

Tenesol, an equal joint venture between Total and EDF, was set up in 1983. It has an annual capacity of 800,000 solar panels from plants in Toulouse, France, and Cape Town, South Africa.

The takeover of Tenesol confirms Total’s commitment to the photovoltaic solar energy industry, in which it has many investments and operations, it said without disclosing financial terms.

Not included in the deal with EDF are Tenesol’s operations in the French overseas departments and territories, which would continue to be equally owned by Total and EDF, Total added.

In addition to Tenesol, Total is a stakeholder in Photovoltech, a Belgian producer of crystalline silicon photovoltaic solar cells.

Total is also a stakeholder in Konarka, a US-based developer of organic solar technologies, and it holds a stake in AE Polysilicon, a US firm specialised in a solar polysilicon production technologies.

Last year, Total won a contract to build and operate a concentrated solar power (CSP) plant in Abu Dhabi in a venture with Spain’s Abengoa Solar.

For more on Total and other producers visit ICIS company intelligence
Check out Doris de Guzman’s Green Chemicals Blog for views on sustainability issues

By: Stefan Baumgarten
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