PARIS, April 15 (UPI) -- French energy company Total said its acquisition of solar energy operator Tenesol was a sign of its commitment to renewable and alternative energy.
Total announced the planned acquisition of Tenesol's operations in Europe. The French supermajor described Tenesol as one of the premier leaders in industrial and commercial solar options for rooftop installations.
Philippe Boisseau, president of Total Gas and Power, said the acquisition expands the regional footprint for solar development.
"This project confirms Total's commitment to expanding rapidly in the photovoltaic solar energy industry," he said in a statement.
Tenesol produces around 800,000 solar panels a year from its main plants in France and South Africa.
The transaction should close by the end of the year, Total said in a statement. The French energy company added it started expanding its solar power portfolio as early as 2008.
Financial terms weren't disclosed.
