Corio plans second major Australian offshore windfarm
Corio Generation announces a 2.5 GW windfarm off the coast of Victoria, bringing its Australian offshore wind portfolio to 4 GW
“We see a significant opportunity for offshore wind in Australia” - CEO Jonathan Cole
Corio Generation is planning a major new offshore wind project in Australia, named Great Eastern Offshore Wind.
If approved for construction following ongoing feasibility studies and consultation with local stakeholders, the project could be among the first tranche of offshore wind projects built in Australia.
Located 22 kilometres off the Wellington Shire coast in Gippsland, Victoria, it could supply enough clean energy for around 1.6 million homes.
The announcement means Corio’s planned Australian offshore wind energy projects now total 4 GW. This includes the previously announced Great Southern Offshore Wind project, located off Gippsland’s Bass Coast, which is expected to have an installed capacity of up to 1.5 GW.
Jonathan Cole, CEO of Corio Generation said: “We see a significant opportunity for offshore wind in Australia, which enjoys an abundance of this natural resource. This, together with clear regulatory frameworks and government support, means offshore wind can contribute to Australia’s energy transition, as well as support local businesses and jobs in the green economy.”
“While offshore wind is a new technology in Australia, it is well established in countries such as the UK where it is a proven, clean and cost-competitive source of electricity. Offshore wind will play an important role in the mix of renewable energy that support Australia’s transition to a lower-carbon economy,” he added.
Corio Generation is a portfolio company of Macquarie’s Green Investment Group (GIG), operating on a standalone basis. Launched as a specialist offshore wind business in April 2022, it brings together an international team of financial and industrial experts to harness offshore wind energy worldwide.
Corio Generation has considerable global experience in developing offshore wind projects with a strong track record in Europe and Asia, including Taiwan, South Korea and Japan. Prior to Corio’s launch, GIG had been exploring opportunities in the Australian offshore wind market since early 2021, and announced the commencement of preliminary works on Great Southern Offshore Wind in November last year.
Read more online: www.coriogeneration.com/great-eastern-offshore-wind-australia
Proposed project boundary:
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.
Our 15+ GW offshore wind development portfolio is one of the largest in the world, spanning 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
Media contact:
Will Henley, Head of Communications
Corio Generation
Phone: +44 7840 850 183
Email: will.henley@coriogeneration.com