French energy group TotalEnergies SE (EPA:TTE) today said it is acquiring Austin, Texas-based Core Solar LLC, which has a portfolio of over 4 GW of utility-scale solar and energy storage projects at different stages of development.
The deal broadens TotalEnergies’ footprint in the US renewable energy market, bringing the gross capacity it has in operation, in construction and in development to over 10 GW.
Vincent Stoquart, senior vice president renewables at TotalEnergies, said the US is a key region for achieving the company’s global target of 100 GW of renewables in operation by 2030.
In the large-scale solar space, also including energy storage, in the US, Core Solar’s 4-GW pipeline adds to 2.2 GW of projects, previously belonging to SunChase Power, that TotalEnergies is now developing and 1.6 GW of projects that the French company is developing in partnership with Hanwha Energy.
The new portfolio includes projects in Texas, Kentucky, Ohio and Pennsylvania. The deal, financial details of which were not announced, will see Core Solar’s chief executive Greg Nelson and its staff join TotalEnergies’ teams.
TotalEnergies also has interests in US offshore wind -- it was awarded a 3-GW wind farm off the coast of New York and New Jersey during the New York Bight auction and has a joint venture with Simply Blue to target US floating wind opportunities. The company is also preparing for an upcoming wind auction offshore California.
In addition, TotalEnergies recently acquired the industrial and commercial solar operations of SunPower Corp (NASDAQ:SPWR) with the aim to develop more than 100 MW of additional solar distributed capacity per year.
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