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May 2005, TOTAL and EDF acquire the founding shares of their historical subsidiary, a solar energy specialist since 1983, to become equal partners in a new group christened: TENESOL.
With operations in Europe, French overseas departments and territories, in the Middle East and Latin America, TENESOL supplies photovoltaic derived electricity to almost 70,000 isolated homes and to thousands of buildings connected to the electricity grid. TENESOL increasingly asserts its commitment to the fast growing solar energy industry.
With its 6 subsidiaries and 150 salaried staff in French overseas territories, TENESOL has already fitted out thousands of homes with solar panels and water heaters.
Beyond its new brand image, the company is now on the fast track to profitable growth: Solar energy is set to become a reality accessible to everyone and increasing numbers of private individuals and companies will be able to actually sell the energy they produce to EDF.
Furthermore, the sale price of the kilowatthour, increased by a governmental order of last July, will enable a more rapid depreciation of the investment which furthermore benefits from a 50% tax credit. So, from the very start the investment is financially profitable.
The installation of solar panels and/or water heater in one’s home is a civic gesture and helps French overseas territories to become energetically independent.10 m² of roof solar panels results in 1.2 tons of avoided emissions of CO2 in the atmosphere. Noise-free, motion-free and emission–free, the use of this free, abundant source of energy is a concrete solution for further effective preservation of our environment.
Electricité de France (EDF) and Total today increased their respective stakes in Total Energie, a company specialising in photovoltaic solar energy, to 50% each with the acquisition of the 20% interest held by the founders and management of the company. Total Energie will now be known as TENESOL.
This transaction demonstrates EDF and Total’s commitment to jointly developing TENESOL, a world leader in photovoltaics. The current management team has been tasked with the continued development of the company.
TENESOL has designed, manufactured, installed and operated photovoltaic solar systems for more than 20 years. The Lyon-based company has a photovoltaic panel production plant in South Africa and has begun construction of a new facility in Toulouse. In 2004, it generated consolidated sales of around €115 million, corresponding to 25 MWp* (250,000 square metres) of photovoltaic solar panels. The panels are used for domestic and industrial applications at sites connected to the grid and off-grid sites. TENESOL has solid positions in Europe, mainly Germany, in French overseas departments and territories, and in Africa, the Middle East and Latin America.
EDF, Total and joint subsidiary TENESOL are also implementing decentralized rural electrification programmes in Morocco, Mali and South Africa, which will eventually supply more than 70,000 isolated households with photovoltaic electricity.
With this transaction, the two companies have confirmed their commitment to a fast-growing renewable energy. Solar power is forecast to make an increasing contribution to global energy supply while at the same time contributing to sustainable development.
* MWp:Megawatt-peak, or 1,000,000 watt-peak. Watt-peak is the unit of solar panel and, in good sunlight, it represents on watt of electricity.
Customer satisfaction