TotalEnergies is further expanding its presence in the US renewable energy industry by acquiring an 4GW utility-scale solar and energy storage project portfolio.
Austin-based Core Solar’s comprises projects at various stages of development across several US states and power markets.
Core Solar’s chief executive Greg Nelson and his employees will join TotalEnergies’ teams.
With this acquisition, TotalEnergies further develops its presence in the US where it now has a portfolio of more than 10GW gross capacity of renewable projects in operation, in construction and in development.
In large scale solar energy, TotalEnergies is already developing 2.2GW of projects, initially carried by SunChase Power, and 1.6GW of projects in partnership with Hanwha Energy, which will be completed by the 4GW of projects acquired from Core Solar.
These portfolios also include energy storage projects.
In offshore wind energy, TotalEnergies is starting the development of a 3GW wind farm off the coast of New York and New Jersey, which was awarded last February during the New York Bight auction.
The company has also launched a joint venture with Simply Blue to unlock the vast potential for floating offshore in the United States.
Beyond, TotalEnergies is working on the preparation of the upcoming auction of offshore wind projects off the coast of California.
In solar distributed generation, TotalEnergies acquired in the first quarter of 2022 the industrial and commercial solar activities of SunPower with the objective to develop more than 100MW per year of additional capacity.
TotalEnergies senior vice president for renewables Vincent Stoquart said: “We are delighted with this new addition to our portfolio of solar projects in the US, a key region for achieving our global target of 100GW of renewable projects in operation by 2030.
“This attractive 4GW pipeline of projects will strengthen and diversify our portfolio.
“I look forward to welcoming Core Solar’s teams who have established an impressive track record with market-leading technical expertise, consistently delivering optimal project results.
Nelson added: “We are thrilled to join TotalEnergies with its unparalleled financial capability, project execution, and operational excellence.
“This will enable the business to accelerate its growth across the US solar market.
“The Core Solar team brings with it an exceptional ability that will contribute to TotalEnergies’ ambition to become a market leader in solar energy delivery in the US.”