Total's SunPower bid adds shine to solar M&A

French energy major Total SA's (TOTF.PA) landmark $1.37 billion offer for a majority stake in U.S. company SunPower Corp (SPWRA.O) gave fresh impetus to hopes of more deals, lifting global solar stocks.

Total's move is one of the biggest ever by an oil and gas giant into the market for renewable energy, which has seen a resurgence of interest following the nuclear crisis at Japan's Fukushima power plant caused by last month's earthquake and tsunami.

Investors have been waiting for years for large-scale consolidation in the solar sector. But activity has been muted as the industry is still in its early stages and dependent on government subsidies to compete with fossil fuels.

Read Full Article from Reuters

- Posted: 2011-05-01 10:34:37

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