15 June 2011 17:25 [Source: ICIS news]
HOUSTON (ICIS)--Total has succeeded in a $1.3bn (€90m) cash tender to secure a 60% stake in US solar panels firm SunPower, the French energy and petrochemicals major said on Wednesday.
Total said SunPower will be the centrepiece of its solar activities.
The long-term viability of solar energy requires globally-integrated firms that are financially strong and committed to advancing the technology, Total said.
Total’s move marks one of the biggest such deals in the fast-growing solar market by an energy and petrochemicals firm so far.
Total holds stakes in a number of solar firms, including Photovoltech, a Belgian producer of crystalline silicon photovoltaic solar cells; Konarka, a US-based developer of organic solar technologies; and AE Polysilicon, a
($1 = €0.69)
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