By Giulia Petroni

TotalEnergies said that it won a 25-year contract to supply 1.4 gigawatts of renewable electricity to the state of New York through its U.S. joint venture Attentive Energy One.

The French energy major said the venture, which includes Corio Generation and Rise Light & Power with a 25% and 35% share respectively, aims to commission the project in 2029. TotalEnergies has a 40% stake in the joint venture.

The Attentive Energy One project will see the construction of a new General Electric facility to manufacture offshore wind-turbine blades and nacelles--streamlined casings--and unlock $300 million in investments in various projects across the state, TotalEnergies said. It will also turn Rise's Ravenswood gas-fueled power plant into a clean-energy hub in New York.

The project will benefit from a 40% Inflation Reduction Act tax credit, according to the company.

Financial details weren't released.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

October 25, 2023 03:30 ET (07:30 GMT)

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