By Adria Calatayud

TotalEnergies is teaming up with Corio Generation and Rise Light & Power to develop a wind project off the coast of New York and New Jersey, receiving $420 million in cash from its new partners.

The French energy major said Monday that offshore-wind developer Corio and New York-based electricity producer Rise will take stakes of 27.7% and 16.3%, respectively, in the project, called Attentive Energy.

Rise will also contribute its assets and interconnection capabilities in New York City to the project, TotalEnergies said.

TotalEnergies retains a 56% stake in the project, which is aimed at developing more than 3 gigawatts of offshore wind with potential to provide electricity for more than a million homes across the two states, it said.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

October 23, 2023 02:27 ET (06:27 GMT)

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