United States: TotalEnergies Wins a 25-year Contract to Supply 1.4 GW of Renewable Electricity to New York
25 Outubro 2023 - 3:40AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and its partners,
Corio Generation (Corio) and Rise Light & Power (Rise) announce
that New York State selected their Attentive Energy One project for
a 25-year contract to supply 1.4 GW of renewable electricity.
Attentive Energy One, a joint venture between TotalEnergies
(40%), Rise (35%) and Corio (25%), received the provisional award
in the State’s 2023 competitive OREC (Offshore Renewable Energy
Credits) solicitation, organized by New York State Energy and
Research Development Authority (NYSERDA). The Consortium aims to
commission this project in 2029.
NYSERDA has put a particular emphasis on the local content of
the proposal: the Attentive Energy One project will enable the
construction of a new General Electric facility to manufacture
offshore wind blades and nacelles and unlock $300 million in
investments in various community-focused projects across New York
State. It will in addition turn the Ravenswood gas-fueled power
plant owned by Rise, into a clean energy hub at the heart of New
York City.
The profitability of this project is ensured by the guaranteed
level of OREC revenue, the benefit of a 40% IRA tax credit, the
secured access to New York electricity grid brought by Rise and the
local supply of turbines by General Electric at a competitive set
price. Moreover, the contract awarded by NYSERDA will include an
inflation adjustment mechanism to compensate for changes in
construction costs until the final investment decision.
“We are honored that the State of New York chose Attentive
Energy One to deliver on the promise of bringing green electricity
to hundreds of thousands of homes and businesses. Together with our
partners Corio and Rise, we will mobilize all our expertise to
develop a major offshore wind project that will contribute to New
York State’s greenhouse gas emissions reduction targets,” said
Vincent Stoquart, Senior Vice President Renewables at
TotalEnergies. “Thanks to this project’s secured offtake price
and competitive advantages such as the 40% IRA tax credit and its
very competitive interconnection, Attentive Energy One project will
contribute positively to our Integrated Power profitability target
of 12% and to our ambition of more than 100 TWh of power generation
by 2030.”
TotalEnergies had secured, in February 2022, 100% of maritime
lease OCS-A 0538 at the New York Bight auction. It then partnered
with New York-based electricity producer Rise and global offshore
wind developer Corio to join forces in the development of the
Attentive Energy offshore wind projects.
The lease’s 3 GW capacity will serve two projects: Attentive
Energy One, which is dedicated to deliver New York State, and
Attentive Energy Two, which is dedicated to supply New Jersey.
Together, these two projects aim to provide green electricity to
more than a million homes across both states.
***
TotalEnergies in the U.S Operating in the United States
since 1957, TotalEnergies is focused on identifying opportunities
to meet growing energy needs while reducing carbon emissions. With
a presence in more than 30 U.S. states, the Company is developing
an integrated portfolio combining 25 GW of operated and
non-operated solar and wind projects, storage, and trading. It is
also the number one U.S. exporter of LNG, a critical partner for
intermittent renewable energies.
TotalEnergies and electricity As part of its ambition to
get to net zero by 2050, TotalEnergies is building a world class
cost-competitive portfolio combining renewables (solar, onshore and
offshore wind) and flexible assets (CCGT, storage) to deliver clean
firm power to its customers. In 2022, TotalEnergies generated more
than 33 TWh of electricity, of which more than 10 TWh came from
renewables. TotalEnergies will continue to expand this business to
grow its power generation to more than 100 TWh by 2030, with the
objective of being among the world's top players in this
sector.
About TotalEnergies TotalEnergies is a global
multi-energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as
many people as possible. Active in nearly 130 countries,
TotalEnergies puts sustainable development in all its dimensions at
the heart of its projects and operations to contribute to the
well-being of people.
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TotalEnergies SE and the consolidated entities that are directly or
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“we”, “us” and “our” may also be used to refer to these entities or
to their employees. The entities in which TotalEnergies SE directly
or indirectly owns a shareholding are separate legal entities. This
document may contain forward-looking information and statements
that are based on a number of economic data and assumptions made in
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risk factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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