TotalEnergies Teams Up with Corio and Rise on US Offshore Wind Project

October 23, 2023, by Adnan Durakovic

TotalEnergies has partnered with Corio Generation and Rise Light & Power (Rise), a New York-based electricity producer, for the joint development of the Attentive Energy offshore wind project off the coast of New York and New Jersey.

Corio and Rise took respective stakes of 27.7 per cent and 16.3 per cent in the Attentive Energy project. Rise will also contribute its assets and interconnection capabilities in New York City to the project. In exchange, TotalEnergies, which retains the remaining 56 per cent, received a total cash consideration of USD 420 million.

TotalEnergies secured 100 per cent of the maritime lease OCS-A 0538 at the New York Bight auction in February 2022.

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The Attentive Energy project aims to develop more than 3 GW of offshore wind at the site 54 miles from New York State and 42 miles from New Jersey shores. Once built, the project will provide green electricity for more than a million homes across the two states.

Under the terms of the agreement, Rise will manage the project’s interconnection at its Ravenswood Generating Station and begin the retirement of its gas generators. The site will be transformed into a green energy hub where Attentive Energy will base its operations and maintenance activities.

”TotalEnergies is delighted to partner with Corio and Rise to profitably develop a major offshore wind project that will provide greener electricity to the residents of New York and New Jersey,” said Vincent Stoquart, Senior Vice President Renewables at TotalEnergies.

”This partnership reinforces TotalEnergies’ capacity to actively develop its presence in the U.S. renewables space where the Company has a 25 GW portfolio of projects, in operation or development, including 4 GW in offshore wind. We are also happy to contribute, through the Attentive Energy project, to the reduction of greenhouse gas emissions in New York and New Jersey, and support the U.S. government’s goal to develop 30 GW of offshore wind in the country by 2030.”

TotalEnergies’ portfolio in offshore wind has a total capacity of more than 13 GW, with most farms bottom-fixed. These projects are located in the United Kingdom, South Korea, Taiwan, France, the United States, and Germany.