REG-TotalEnergies SE United States: TotalEnergies Joins Forces With Corio and Rise to Develop 3+ GW Wind Project Offshore New York & New Jersey

TotalEnergies SEAnnouncement

23/10/2023 08:15

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United States: TotalEnergies Joins Forces With Corio and Rise to Develop 3+ GW
Wind Project Offshore New York & New Jersey

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) today announces 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.

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.

The Attentive Energy project aims to develop more than 3 gigawatts (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.

The alliance of three leaders for an integrated and innovative offshore wind
project

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.

Corio will bring its extensive experience as a global offshore wind developer.
With over 30 GW under development in Europe, Asia-Pacific and the Americas,
Corio owns one of the world’s largest offshore wind project portfolios.

“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 and offshore wind

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 (Seagreen, Outer Dowsing, West of Orkney, Erebus), South Korea (Bada),
Taiwan (Yunlin, Haiding 2), France (Eolmed), the United States (Attentive
Energy and North Carolina), and Germany (N-12.1 and 0-2.2).

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, and had a gross renewable electricity generation installed
capacity of 17 GW. 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 5 producers of electricity from wind and solar energy.

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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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “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 a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of 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).

TotalEnergies Contacts

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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
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