Corio joins Global Offshore Wind Alliance to help countries meet renewable targets
‘Barriers to deployment remain which can only be solved if public and private sectors work together’ says Jonathan Cole
Alliance brings together industry and government to deliver global target of 2,000 GW of offshore wind by 2050
Specialist developer Corio marking one year since it was launched in April 2022
Corio Generation is joining the Global Offshore Wind Alliance, an international coalition founded by the Government of Denmark, the International Renewable Energy Agency (IRENA) and the Global Wind Energy Council (GWEC) to help countries transform their economies using offshore wind power.
Corio will join as one of GOWA’s leading industry representatives and has pledged to work with the alliance’s membership to ramp up offshore wind deployment worldwide. Governments that have so far joined the alliance include Australia, Belgium, Colombia, Denmark, Germany, Ireland, Japan, the Netherlands, Norway, the UK and the USA.
Launched at COP27 in Egypt in November 2022, GOWA aims to be a driving force for the worldwide rollout of offshore wind through political mobilisation and the creation of a global community of practice. The alliance will consider ways to deliver a minimum of 380 GW in offshore wind capacity by 2030, with 35 GW on average each year across the 2020s and a minimum of 70 GW each year from 2030, culminating in a global target of 2,000 GW by 2050.
Leading international offshore wind developer Corio has quickly established itself as one of the industry’s biggest names since launching in April 2022 as a portfolio company of Macquarie’s Green Investment Group. Headquartered in London, UK, Corio has one of the world’s largest offshore wind project pipelines, standing at around 30 GW today. These next-generation offshore windfarms across Europe, Asia and the Americas, including innovative floating and fixed-bottom technologies, will form the backbone of the energy transition.
Jonathan Cole, CEO of Corio Generation, announcing that Corio is joining GOWA, commented: “In all regions of the world, across advanced and emerging economies, governments are looking seriously at offshore wind as a reliable source of clean, green and affordable renewable energy. Rapid technological progress has opened the door to deploying offshore windfarms at scale, but barriers remain which can only be solved if public and private sectors work together.
“Corio’s expert team has decades of experience in project delivery across the world and so we want to share what works, and what doesn’t, with governments seeking to harness their untapped ocean wind resources. GOWA can play a transformational role in sharing good practices and promoting dialogue. Our shared goal is to help countries everywhere transition successfully away from economies reliant on fossil fuels to a greener, more sustainable future.”
Ben Backwell, CEO of GWEC, said: "We are delighted Corio Generation are joining the Global Offshore Wind Alliance. To deliver the enormous potential of offshore wind, governments, international organisations and the private sector must work together - Corio is perfectly positioned to bring the expertise required to remove barriers and help scale-up the deployment of offshore wind in emerging markets."
The Global Offshore Wind Alliance will provide a forum for knowledge exchange and peer-to-peer learning and capacity building for governments. To support national offshore wind rollout plans, GOWA will look for solutions on designing regulatory frameworks, financial de-risking, system integration, and the sharing socio-economic benefits among other topics.
Corio’s first anniversary as a new brand in offshore wind
Now celebrating its first anniversary as a new force in offshore wind, Corio brought together a team of financial and industrial offshore wind experts to invest in, develop, construct and operate cutting-edge windfarms around the world. As a mark of Corio’s growing industry recognition, the business was recently shortlisted for Offshore Developer of the Year and Equity Deal of the Year in the prestigious 2023 Wind Investment Awards.
Pictured: Corio Generation’s CEO, Jonathan Cole, joined the launch of the Global Offshore Wind Alliance at COP27 in November 2022.
About Corio Generation
Corio Generation is a specialist offshore wind business dedicated to harnessing renewable energy worldwide. With a unique blend of sector-leading expertise and deep access to long-term capital, we work closely with our partners in the creation and management of projects from origination, development and construction, and into operations.
We have one of the world’s largest offshore wind project pipelines, with over 30 GW at various stages of development. Our project portfolio across Europe, Asia-Pacific and the Americas spans established and emerging markets, as well as floating and traditional fixed-bottom technologies. These next generation offshore wind projects will help form the backbone of the net-zero global energy system while meeting the energy needs of communities and corporate offtakers sustainably, reliably, safely and responsibly.
Corio Generation is a Green Investment Group (GIG) portfolio company, operating on a standalone basis. GIG is a specialist green investor within Macquarie Asset Management, part of Macquarie Group.
For more information visit coriogeneration.com and follow us on Twitter @CorioGeneration