Total is planning to develop four large solar projects near Houston, expanding its footprint in the U.S. solar market.
The French oil major on Friday said it acquired the yet-to-be-completed solar projects from SunChase Power, an Austin-based renewable energy company and MAP RE/ES, a private energy investment firm. Terms of the deal were not immediately available, but Total said its payments to SunChase and MAP RE/ES will be staggered as the solar projects are completed.
The projects consist of four solar farms, each with a battery storage system, in industrial areas south and southwest of Houston. The first two projects are expected to start construction later this year, and all four projects are expected to come online by 2024. The solar projects will generate as much