TotalEnergies in collaboration with Corio Generation and Rise Light and Power announced that their Attentive Energy One project has been selected by New York State for a 25 year contract to supply 1.4 GW of renewable electricity.
Article continues below
Attentive Energy One, a joint venture with TotalEnergies holding 40%, Rise with 35%, and Corio with 25%, has received provisional approval in New York State’s competitive Offshore Renewable Energy Credits (OREC) solicitation for 2023, organized by the New York State Energy and Research Development Authority (NYSERDA).
The consortium is working towards commissioning the project in 2029.
NYSERDA has placed a strong emphasis on local content in the proposal. The Attentive Energy One project will facilitate the construction of a new General Electric facility for manufacturing offshore wind blades and nacelles, as well as stimulate $300 million in investments for community-focused projects across New York State.
Additionally, it will transform Rise’s Ravenswood gas-fueled power plant into a clean energy hub in the heart of New York City.
The project’s profitability is secured through guaranteed OREC revenue, a 40% IRA tax credit, assured access to the New York electricity grid facilitated by Rise, and the local supply of turbines by General Electric at a competitive price.
The contract awarded by NYSERDA will also include an inflation adjustment mechanism to account for changes in construction costs until the final investment decision.
TotalEnergies had previously secured 100% of maritime lease OCS-A 0538 at the New York Bight auction in February 2022.
The partnership with New York-based electricity producer Rise and global offshore wind developer Corio was established to jointly develop the Attentive Energy offshore wind projects.
The lease’s 3 GW capacity will serve two projects: Attentive Energy One, focused on supplying New York State, and Attentive Energy Two, dedicated to providing renewable energy to New Jersey.
These projects collectively aim to power more than a million homes across both states. ■