The expected sale covers all of Tenesol’s businesses, with the exception of the business in overseas departments. The latter involves development and in particular own account and third party management of some 50 megawatts of solar power plants in French overseas departments and territories. This business will be brought together in a newly-created company which will continue to be equally owned by EDF ENR and the Total group.
This transaction is subject to legal procedures to inform and consult with representatives of Tenesol employees, and to the approval of the competition authorities in the relevant countries. The agreement is expected to be finalised in the second half of 2011.
Created in 1983, Tenesol is a French company operating in the photovoltaic solar power business. It is jointly owned by EDF ENR, a subsidiary of the EDF group, and by the Total group. Tenesol has two sites for assembling photovoltaic modules in Toulouse and the Cape (South Africa), businesses of marketing and installing photovoltaic roof systems for individuals and businesses in mainland France and overseas departments, as well as in Europe, and a solar farm construction business in overseas departments and territories.
Since the end of 2007, EDF ENR, 50 %-owned by the EDF Group and 50 %-owned by EDF Energies Nouvelles, designs and markets solar photovoltaic offers for individual houses, for companies and communities with middle-sized roofs. With about 10,000 individuals customers and more than 350 installations for companies and communities, EDF ENR is the solar photovoltaic leader in the French middle-sized roof market.
With operations in Europe and North America, EDF Energies Nouvelles is a market leader in green electricity production. With a development focused on wind energy for several years and more recently on solar photovoltaic, the Group is also present in other segments of the renewable energies market: small hydro, marine energy, biomass, biofuel and biogas. In addition, the Group is expanding in the distributed renewable energies sector. EDF Energies Nouvelles, 50 %-owned by the EDF Group, is listed in Euronext Paris since November 2006 (code "EEN", ISIN code: FR0010400143).