TotalEnergies is further expanding its presence in the U.S. renewable energy industry by acquiring Austin, Texas-based Core Solar LLC, according to a company press release on April 27.

Core Solar'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. The company’s CEO, Greg Nelson, and his employees will join TotalEnergies’ teams. The terms of the transaction were not disclosed.

"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," Vincent Stoquart, senior vice president of renewable at TotalEnergies, commented in the release. "This attractive 4 GW pipeline of projects will strengthen and diversify our portfolio."

With this acquisition, Paris-based TotalEnergies further develops its U.S. portfolio comprising 10 GW gross capacity of renewable projects in operation, construction or development. These projects include the development of 2.2 GW in large-scale solar energy with Austin, Texas-based SunChase Power and 1.6 GW in partnership with South Korean Hanwha Energy.

The company is also developing a 3 GW wind farm off the coast of New York and New Jersey to develop offshore wind energy and launched a joint venture with Irish project developer Simply Blue to unlock potential in floating offshore in the U.S.

Located in Austin, Core Solar partners with landowners to develop solar projects that meet the needs of the local areas. The company has a portfolio of over 5.4 GW of solar projects in the U.S., comprised of 138 operational MW and 8,871 developed MW.

"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," Nelson added. "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."