Core Solar Acquired by TotalEnergies to Expand U.S. Renewable Energy Portfolio

TotalEnergies will expand its presence in the U.S. solar energy market by purchasing Austin-based Core Solar LLC. This portfolio includes more than 4GW of utility-scale solar and storage projects. It is located in several states and power markets across the United States. Core Solar’s CEO Greg Nelson and his employees will join TotalEnergies’ teams.

TotalEnergies now boasts a portfolio with more than 10 GW of gross capacity in renewable projects in operation, under construction, and in development in the U.S. TotalEnergies is currently developing large-scale solar energy projects. Initially carried by SunChase Power (now TotalEnergies), TotalEnergies now has 1.6 GW projects in partnership and Hanwha Energy. These projects will be completed by Core Solar’s 4 GW. These portfolios also contain energy storage projects.

TotalEnergies has begun offshore wind energy development. The 3 GW project is located off the coasts of New York and New Jersey. This wind farm was awarded last February in the New York Bight Auction. The company also launched an offshore floating joint venture with Simply Blue. TotalEnergies continues to work on the preparations for the auction of offshore wind projects off California’s coast.

TotalEnergies, a leader in solar distributed generation, acquired the commercial and industrial solar activities of SunPower in the first quarter 2022. TotalEnergies plans to add more than 100 MW annually.

“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 vice president 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.”