French energy major TotalEnergies has acquired solar developer Core Solar and its 4GW portfolio of development solar and battery storage assets.
With the acquisition of Core Solar its portfolio of renewable projects in the US – either in operation, construction or development – passed 10GW, with 2.2GW of large-scale solar developed by SunChase Power and 1.6GW of solar projects with Hanwha Energy.
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The US portfolio brings the French firm closer to its goal of 35GW of renewable energy and storage capacity by 2025, a target which increases to 100GW by 2030.
Core Solar’s CEO and employees will be integrated into TotalEnergies’ teams and the 4GW of utility-scale solar and battery storage projects are distributed in four states: Texas, Kentucky, Ohio and Pennsylvania.
Moreover, the solar portfolio in the US is distributed across 14 states, including California, Nevada, Texas and Hawaii.
This is not the first US acquisition for TotalEnergies this year in order to increase its renewable portfolio in the country as it acquired SunPower’s solar commercial and industrial (C&I) activities earlier this year.
The C&I solar activities will focus in the solar distributed generation market in the country with the goal to develop more than 100MW of capacity per year.
“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,” said Vincent Stoquart, senior vice president renewables at TotalEnergies.
Earlier this month, TotalEnergies formed a joint venture with Japanese oil company Eneos to develop 2GW of decentralised solar capacity across Asia over the next five years.