TotalEnergies announced it partnered with Corio Generation (Corio), an offshore wind developer, 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.
The Attentive Energy project aims to develop more than 3 GW of offshore wind located 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.
According to TotalEnergies, Corio and Rise took respective stakes of 27.7% and 16.3% 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%, received a total cash consideration of $420 million. TotalEnergies had secured, in February 2022, 100% of maritime lease OCS-A 0538 at the New York Bight auction.
Through this partnership, TotalEnergies reinforces its ability, as operator, to deliver a robust offshore wind project with attractive returns, which will help supply green electricity to New York City. 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. This iconic site, a pillar of New York City's energy system, 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.