Offshore staff
PARIS/NEW YORK — The state of New Jersey has awarded TotalEnergies and co-venturer Corio Generation a 20-year contract for their Attentive Energy Two offshore wind project.
This will supply 1.34 GW of electricity over the period to more than 650,000 homes.
TotalEnergies (70%) and Corio (30%) gained the award under the state’s third competitive OREC (Offshore Renewable Energy Credits) solicitation, organized by the New Jersey Board of Public Utilities (NJBPU).
They are aiming to commission the project in 2031. Profitability should be ensured by the guaranteed level of OREC revenue, with a first year of $131/MWh following the start of commercial operations, increasing annually by 3%, supplemented by a 30% IRA tax credit.
In addition, the includes a one-time inflation adjustment mechanism to compensate for changes in the construction costs environment until the partners take FID on the development.
Last October TotalEnergies provisionally secured a 25-year, 1.4-GW supply contract from the state of New York for its Attentive Energy One project.
In February 2022, the company picked up maritime lease OCS-A 0538 in the New York Bight auction, going on to form a partnership with New York-based electricity producer Rise and offshore wind developer Corio for the Attentive Energy offshore wind projects.
01.26.2024
