Total has signed an agreement with EDF ENR to acquire Tenesol’s operations.
The deal would bring all of the French solar operator’s non-overseas activity under Total’s control.
Philippe Boisseau, President of Total Gas & Power said: “This project confirms Total’s commitment to expanding rapidly in the photovoltaic solar energy industry. 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.”
Tenesol has a production capacity of 800,000 solar panels a year at its two plants in Toulouse, France and Cape Town, South Africa.
In the agreement, Tenesol’s French overseas departments and territories would continue to be equally owned by the Total Group and EDF ENR.