The French oil group, which is the parent company of U.S. solar manufacturer SunPower, is set to acquire a 74.33% stake in France’s third largest electric utility Direct Energie. Prominent Australian renewable developer and IPP Neoen was established by Direct Energie in 2008, although it will not be affected by the transaction and will continue to remain “totally independent”.
Last year, the Chinese module maker shipped 9.8 GW, and achieved revenue of $4.0 billion. Both gross and net profit, however, declined due to lower ASPs, higher polysilicon prices and increased output from OEM partners.
Only one month after announcing a PERC module efficiency of 20.41%, the Chinese solar manufacturer announced it has now achieved a 23.6% efficiency for its PERC monocrystalline cells, thus beating its own previous records.
Last year’s result surpassed by more than 1 GW the results registered in 2015 and 2016, when the combined capacity of this market segment reached 4.4 GW and 4.3 GW, respectively.
The French independent power producer will use the funds for the development of 1.6 GW of wind and solar in France and Australia.