TotalEnergies Acquires Core Solar In US

French Energy Major Expands US Solar & Storage Portfolio By 4 GW Via Acquisition Route

TotalEnergies Acquires Core Solar In US

After acquiring SunPower’s C&I business in the decentralized solar space recently, TotalEnergies has now added large scale solar and storage projects capacity of over 4 GW in the US with Core Solar’s acquisition. (Illustrative Photo; Photo Credit: Vaclav Volrab/Shutterstock.com)

  • TotalEnergies has acquired solar and storage projects company Core Solar, LLC in Texas, US
  • This move expands its cumulative renewables capacity in the country to more than 10 GW with the addition of 4 GW
  • While it strengthens the French company’s presence in the country, for Core Solar this brings it financial and network capabilities of TotalEnergies to expand further

TotalEnergies, the French energy company, is expanding its US renewables portfolio by the day as it has now announced the acquisition of Core Solar, LLC, a solar and storage company from Texas, that comes to the fold with its more than 4 GW development pipeline.

“We are delighted to join TotalEnergies, which has unrivaled financial capabilities, performance in project execution and operational excellence. This will allow us to multiply our strike force on the American solar market,” said Core Solar CEO Greg Nelson who along with his team will join the TotalEnergies team.

With this acquisition, the French giant has more than 10 GW of operational, under construction and in development renewable energy projects in the US with most of it comprising solar PV technology.

Core Solar’s 4 GW large scale capacity will add to 2.2 GW large scale solar TotalEnergies is already developing in one of the largest solar markets of the world, initially led by SunChase Power, along with 1.6 GW in partnership with Hanwha Energy.

In Q1/2022, it acquired the Commercial & Industrial Solutions (C&I) business segment from SunPower in which it already is the majority shareholder, to strengthen its rooftop solar portfolio targeting to develop 100 MW+ of additional decentralized capacity annually (see SunPower Finds Buyer For CIS Business).

The company’s overarching aim is to reach a gross production capacity from renewables and storage to 35 GW by 2025, scaled up to 100 GW by 2030.

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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