TotalEnergies has sold stakes in its Attentive Energy offshore wind project off the coast of New York and New Jersey to Corio Generation (Corio), and Rise Light & Power (Rise).
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 US$420m.
In February 2022, TotalEnergies secured 100% of maritime lease OCS-A 0538 at the New York Bight auction.
The Attentive Energy project aims to develop more than 3GW of offshore wind located 54 miles from New York State and 42 miles from New Jersey shores.
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.
Corio will bring its extensive experience as a global offshore wind developer.
With over 30GW under development in Europe, Asia-Pacific and the Americas, Corio owns one of the world’s largest offshore wind project portfolios.
Senior vice president renewables at TotalEnergies Vincent Stoquart said: “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.
“This partnership reinforces TotalEnergies’ capacity to actively develop its presence in the US renewables space where the Company has a 25GW portfolio of projects, in operation or development, including 4GW 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 US government’s goal to develop 30GW of offshore wind in the country by 2030.”