Friday, December 23, 2011

SunPower Buys Tenesol SA

San Jose-based SunPower said Thursday that it has acquired Tenesol SA, a developer of solar power projects, in a deal worth $165.4M in cash. Tenesol SA is owned by Total SA, and is based in La Tour de Salvagny, France. As part of the deal, Total has agreed to purchase 18.6 million shares of SunPower common stock in a private placement at $8.80 per share, giving it approximately 66 percent of SunPower's common shares. Tenesol provides design, engineering, manufacturing, installation, and management of solar energy systems, including large industrial and commercial photovoltaic rooftop solutions in Europe.