New York approves three offshore wind projects

NEW YORK, October 26, 2023 – US government officials have awarded conditional contracts for three offshore wind projects in the state of New York, Reuters announced on Tuesday.

New York State Research and Development Authority awarded the 1.4-GW Attentive Energy One project to partners TotalEnergies, Corio Generation and Rise Light & Power. The two latter companies acquired shares in the project for USD 420 million.

The authority also awarded the 1.3-GW Community Offshore Wind project to German utility RWE Offshore and the UK’s National Grid. This project is the first of several planned at the New York Bight concession.

A third award for the 1.3-GW Excelsior Wind project was given to Copenhagen Infrastructure Partners and the Danish company’s partly-owned Vineyard Offshore.

All three projects are expected to be commissioned in 2030.

According to the state authority, the developments will cut down the state’s carbon emissions by 7 million tonnes per year, attract more than USD 15 billion in investments and create around 4,200 jobs.

The government also awarded conditional contracts for 22 land-based renewables projects that will generate an additional 2.4 GW.

To support these projects, the state has committed USD 300 million to build an offshore wind manufacturing hub currently being planned by renewables engineering giant GE Verona.

New York state plans to have 70% of the state’s electricity sourced from renewable sources by 2030.

Costs of the new conditional contracts were not disclosed.

Read our latest insights on: