French TotalEnergies is expanding its presence in the US renewable energy industry by acquiring Core Solar along with its 4 gigawatts (GW) of utility-scale solar and energy storage projects, the company announced on Wednesday.
With the new addition, the company will increase its renewable projects to 10 GW in various stages of development and operation in the US.
Currently, TotalEnergies is developing 2.2 GW of solar projects bought from Texas-based energy company SunChase Power, and 1.6 GW of projects in partnership with South Korean Hanwha Energy.
Additionally, TotalEnergies is starting the development of a 3 GW wind farm off the coast of New York and New Jersey.
As part of its ambition to reach net zero by 2050, TotalEnergies is building a portfolio of activities in renewables and electricity.
The company has a global target of achieving 100 GW of renewable projects in operation by 2030.
By Zeynep Beyza Kilic