04 May '11, 6pm

French Oil Giant Total to Buy 60% of Solar PV Maker SunPower for $1.37 Billion: Photo: pgegre... th.bp #green #USRC

French Oil Giant Total to Buy 60% of Solar PV Maker SunPower for $1.37 Billion: Photo: pgegre... th.bp #green #USRC

"The world future energy balance will be the result of a long-term transition in which renewable energies will take their place alongside conventional resources," said Philippe Boisseau , President, Total Gas and Power Division. "Over the past years, Total has built up sizeable renewable energy activities. Today, Total is executing on its strategy to become a major integrated player in solar energy. We evaluated multiple solar investments for more than two years and concluded that SunPower is the right partner based on its people, world-leading technology and cost roadmap, vertical integration strategy and downstream footprint." "Solar is becoming a material addition to the new generation portfolio around the world, with more than 40,000 MW of solar photovoltaic power installed globally," continued Werner. "Total and SunPower will collaborate to ensure that solar becomes a...

Full article: http://www.treehugger.com/files/2011/05/french-oil-gial-t...

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