facebook
twitter
rss
account
search
search
 

Total sees future in solar energy

April 29, 2011 at 7:46 AM   |   Comments

| License Photo
SAN JOSE, Calif., April 29 (UPI) -- Solar power will play a dominant role in the global energy mix as the world moves toward a renewable energy future, a California solar company executive said.

French energy company Total announced that it launched a "friendly tender offer" for a 60-percent stake in solar power company SunPower, which has corporate offices in California.

California was the recent recipient of U.S. federal funds to advance the solar power sector.

Total as part of the deal provides SunPower with as much as $1 billion in credit during the next five years to support solar research development.

"Total's commitment and global presence will help accelerate our growth and solidify our position in the increasingly competitive solar sector," said Tom Werner, SunPower's chief executive officer, in a statement.

Total said the partnership with SunPower would contribute to the transition to a renewable energy future. Solar power, the French company said, already boasts 40,000 megawatts of installed capacity across the globe.

"Total and SunPower will collaborate to ensure that solar becomes a platform for an efficient, competitive and sustainable energy future," added Werner.

Topics: Tom Werner
© 2011 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
FBI arrests Google employee accused of nude photo scam FBI arrests Google employee accused of nude photo scam
2
Navy tests MQ-8C unmanned helos Navy tests MQ-8C unmanned helos
3
Europe must drop the euro, Germany abandon mercantilism Europe must drop the euro, Germany abandon mercantilism
4
Harris selected for geospatial data products Harris selected for geospatial data products
5
Sweden plans to replace its Defense and Security Export Agency Sweden plans to replace its Defense and Security Export Agency
Trending News
Around the Web
x
Feedback