TotalEnergies expands its renewables portfolio in the U.S.
The oil company has acquired Core Solar to further advance in its strategy to expand its renewables footprint across the country.
TotalEnergies has announced the acquisition of Core Solar, LLC to further expand its presence in the U.S. renewable energy industry. The solar company’s portfolio includes more than 4 GW of utility-scale solar and energy storage projects at various stages of development across several U.S. states and power markets.
With this acquisition, TotalEnergies further develops its presence in the U.S. where it now has a portfolio of more than 10 GW gross capacity of renewable projects in operation, in construction and in development.
“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. This attractive 4 GW 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,” said Vincent Stoquart, Senior Vice President Renewables at TotalEnergies.
“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 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.,” said Greg Nelson, President and CEO at Core Solar.
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 100 MW per year of additional capacity.
