French energy major Total SA (EPA:FP) will consider the possibility of joining the ambitious solar capacity plans of Qatar Petroleum (QP) and Qatar Electricity and Water Company (QEWC).
At a press conference on Monday, Total’s chairman and CEO Patrick Pouyanne said, as cited by the Gulf Times, that the company would study seriously the possibility of establishing a joint venture between its subsidiary SunPower Corp (NASDAQ:SPWR) and the new energy company that QP and QEWC have announced. Further details were not disclosed.
Total already has a solar business in Abu Dhabi and is willing to expand its reach to Qatar, Pouyanne added.
SunPower makes solar photovoltaic (PV) cells and panels and also develops projects globally. For the full 2016 it expects to deploy 1.7 GW to 2 GW. Total, which holds a majority stake in the US-based company, has committed to invest USD 500 million in renewables annually.