The US administration is drafting settlement agreements that could lead to the cancellation of leases held by TotalEnergies for the 3 GW Attentive Energy and 1.2 GW Carolina Long Bay offshore wind projects, according to reporting by The New York Times.
The proposed buyout is reported to be valued at close to $1 billion and follows unsuccessful efforts by the administration to halt five utility-scale offshore wind projects that are already under construction.
In 2022, TotalEnergies acquired the Carolina Long Bay lease for $160 million and the Attentive Energy lease for $795 million, for a combined $955 million. According to The New York Times, the administration is prepared to offer $928 million for the two leases.
The Carolina Long Bay lease area is located offshore North and South Carolina, while the Attentive Energy lease is situated in the New York Bight offshore New York and New Jersey. The Attentive Energy project is a joint venture with Corio Generation and Rise Light & Power, which hold stakes of 27.7% and 16.3% respectively.
