TotalEnergies Acquires Core Solar to Develop U.S. Renewable Energy Portfolio

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TotalEnergies’ solar power plant Total Nuevas Energias – SolarPower is positioned in El Salvador, within the area of Atacama, Chile. (Credit: Zylberman Laurent – Graphix Images – TotalEnergies)

TotalEnergies is additional increasing its presence within the U.S. renewable energy trade by buying Austin, Texas-based Core Solar LLC, which has a portfolio of greater than 4 GW of utility-scale solar and energy storage tasks at varied phases of improvement throughout a number of U.S. states and power markets.

Core Solar’s CEO Greg Nelson and his staff will be part of TotalEnergies’ groups.

With this acquisition, TotalEnergies now has a portfolio of greater than 10 GW gross capability of renewable tasks in operation, in development and in improvement within the U.S. In large-scale solar energy, TotalEnergies is already creating 2.2 GW of tasks, initially carried by SunChase Power, and 1.6 GW of tasks in partnership with Hanwha Energy, which will probably be accomplished by the 4 GW of tasks acquired from Core Solar. These portfolios additionally embrace energy storage tasks.

In offshore wind energy, TotalEnergies is beginning the event of a 3 GW wind farm off the coast of New York and New Jersey, which was awarded final February in the course of the New York Bight public sale. The firm has additionally launched a floating offshore three way partnership with Simply Blue. Beyond, TotalEnergies is engaged on the preparation of the upcoming public sale of offshore wind tasks off the coast of California.

In solar distributed era, TotalEnergies acquired within the first quarter of 2022 the commercial and industrial solar actions of SolarPower with the target to develop greater than 100 MW per yr of further capability.

“We are delighted with this new addition to our portfolio of solar projects in the U.S., a key region for achieving our global target of 100 GW of renewable projects in operation by 2030,” says Vincent Stoquart, senior vp of renewables at TotalEnergies. “This attractive 4 GW pipeline of projects will strengthen and diversify our portfolio.”

“We are thrilled to join TotalEnergies with its unparalleled financial capability, project execution and operational excellence,” states Greg Nelson, president and CEO at Core Solar. “This will enable the business to accelerate its growth across the U.S. 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 U.S.”

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