SunPower completes Tenesol acquisition; deploys over 2,500MW of solar worldwide

Facebook
Twitter
LinkedIn
Reddit
Email

SunPower has now completed the acquisition of BIPV specialist Tenesol from Total, paying out US$165.4 million in cash. Ownership of Total in SunPower will increase to 66% as part of the transaction as Total purchases 18.6 million shares of SunPower common stock in a private placement at US$8.80 per share. 

“SunPower is well positioned to gain share during the current market transition with the addition of Tenesol's established European and global customer channels and strong manufacturing base in Europe and Africa,” said Tom Werner, SunPower president and CEO.

“Tenesol's well-established engineering and sales channels and strong team will complement SunPower’s world-leading high efficiency, high reliability solar panels and systems global footprint,” he continued.

“With SunPower’s industry-leading technology, attractive long-term cost roadmap, our joint collaboration on research and development and Tenesol’s established downstream presence, the combined company is well positioned to open new, largely untapped markets for solar,” said Arnaud Chaperon, senior vice president of the Total Gas and Power Division.

Globally, Tenesol has installed more than 15,000 solar systems totalling ~500MW and expects to record revenue of approximately €200 million in 2011. Post acquisition, SunPower will have deployed more than 2,500MW of solar technology worldwide.

4 October 2022
Solar & Storage Finance USA, the only event that connects developers to capital and capital to solar and storage projects, will be back in November 2022.
11 October 2022
RE+ Florida returns in 2022. Solar & Energy Storage Florida is now RE+ Florida! This premier event for the Sunshine State will return October 11-12, 2022 in Miami.
11 October 2022
PV CellTech Extra will be held as a series of live webinars and on-demand sessions on 11-13 October 2022. We'll be taking a slightly further forward-looking view at the technologies and roadmaps for new cell architectures set to dominate mass production during 2023-2025 with special emphasis on the potential timelines for technologies beyond the single-junction cell design, including perovskite and hybrid concepts.
13 October 2022
The 2022 ACORE Grid Forum is a one-day event that convenes regulators, renewable, storage and transmission companies, and other leading grid experts in Washington, D.C. Speakers will examine the roles of administrative orders and actions, infrastructure policy, regional and state developments, and private sector strategies on the path to a carbon-free grid.
18 October 2022
The solar, storage and EV industries in the UK are going from strength to strength. There is no better place for the community to meet, share ideas and do business than Solar & Storage Live from 18-20 October at the NEC. There’s something for everyone; more than 150 exhibitors, a high-level conference, a start up and innovation zone, a poster zone, strategic partners to network with and much more. 
18 October 2022
The global PV market is entering a new era at unprecedented speed. The demand for high-power PV modules has soared, while interest in the future direction of solar technologies has intensified. Tongwei wants to create discussions between EPC companies, investors, and distributors, especially in Europe, which the company sees as a key growth market. Understanding the opinions and needs of clients in terms of shingled or N-type technology, as well as larger module size, is vital to Tongwei’s success in Europe and beyond. In this PV Tech TechTalk webinar, experts from TÜV NORD and Tongwei's CTO will discuss the risk analysis and reliability of the company’s shingled module technology and its applicability to different European markets.

Read Next

September 30, 2022
European Union countries will introduce a revenue cap on operational solar PV plants as part of a package of emergency measures approved today.
PV Tech Premium
September 30, 2022
As trade bodies call for Ukraine to reach 50% renewables in its power mix by 2030, it will need to install 17GW of solar PV.
September 30, 2022
US renewable energy major Brookfield Renewable has agreed to spend up to US$2 billion in order to acquire both Scout Clean Energy and Standard Solar.
September 30, 2022
Utility-scale renewables developer Intersect Power has secured US$3.1 billion in project financing to complete its 2.2GW near-term clean energy portfolio in the US.
September 30, 2022
Canadian natural gas pipeline giant Enbridge has bought US renewables developer Tri Global Energy (TGE) for US$270 million in cash and assumed debt.
September 29, 2022
Norwegian polysilicon manufacturer REC Silicon has appointed William Kurtis Levens as its new CEO, succeeding James May in the position.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 4, 2022
New York, USA
On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)