Solar Industry is majorly maturing, same can be cited in the deal according to which, French oil major, Total SA is planning to spend $1.37 billion to buy a controlling stake in SunPower Corp.

On Thursday, confirmation over same was made by Total. Many industry observers have also revealed that this solar company uses an attractive technology to make high-quality, high-efficiency panels with the help of a traditional fossil-fuel company, which accesses cash and credit needs of the solar company enabling them to accelerate solar deployment around the world.

With this deal actualizing, hopes are getting higher among the conventional energy players that the solar power will grow quickly from its current small size. "This is a nice validation proof point. It is certainly not a distressed sale", said Sheeraz Haji, Chief Executive of Cleantech Group LLC.

There are many big Western Oil companies and Total is one in the list but the company seems to be more interested in solar technology and power generation than its large peers. Earlier in the month, Total also announced about its plan of buying its partner in a solar venture. Though the amount was not disclosed but it was announced that the company will buy 1,100 employees and two panel-manufacturing facilities of its partner.