In a groundbreaking development, energy titan TotalEnergies SE has announced a dynamic partnership with two trailblazing renewable energy firms, Corio Generation and Rise Light & Power. This electrifying alliance is set to propel the creation of a colossal wind project off the eastern shores of the United States, unfurling a saga of green energy excellence at a staggering cost of $420 million.
Corio Generation, a proud member of the illustrious Green Investment Group under the Macquarie Group’s banner, secures a formidable 27.7% stake in this groundbreaking venture. Meanwhile, Rise Light & Power, headquartered in the bustling heart of New York, claims an electrifying 16.3% share in this awe-inspiring project. The energy juggernaut, TotalEnergies, shall stand at the helm with an unassailable 56% majority stake, as they jointly chart a course toward a renewable energy revolution.
As the curtains rise on this momentous collaboration, legal counsel information for TotalEnergies, Corio, and Rise Light remains enshrouded in an enigmatic veil of secrecy, keeping the intrigue at its peak.
Illuminating the Path to a Greener Future
Vincent Stoquart, the Senior Vice President of Renewables at TotalEnergies, casts light on the ambitious endeavor, affirming that this union promises to deliver cleaner, greener electricity to the doorsteps of New York and New Jersey residents. Stoquart fervently stated, “This partnership reinforces TotalEnergies’ capacity to actively develop its presence in the U.S. renewables space, where it has a 25-gigawatt portfolio of projects in operation or development, including four gigawatts in offshore wind. A gigawatt can power the expected requirement for approximately 2,000 homes for an hour.”
