Wind Energy – New Specialist
Macquarie’s Green Investment Group (GIG) has today announced its plans to launch a new specialist offshore wind business – Corio Generation (Corio).
Corio will commence operations in April 2022 with a project pipeline of over 15 GW – one of the largest in the world.
A GIG portfolio company operating on a standalone basis, Corio will take projects from origination, through development and construction, and into operations.
Corio will apply a long-term partnership approach to the creation and management of projects, underpinned by access to long-term capital sourced both within Macquarie and from third parties.
Corio will continue the development of GIG’s existing portfolio – which includes previously announced projects in the UK, Europe, Taiwan, Korea, and Australia.
Corio will be led by Jonathan Cole, who will join the business as CEO after more than a decade as leader of Iberdrola’s offshore wind business. He has a track record of developing a major international pipeline of offshore wind projects, and was previously responsible for the development, construction and operation of over 30 GW of projects in Europe, the Americas and Asia.
Samuel Leupold, who is currently Green Investment Group’s Chairman of Offshore Wind Energy, will also join Corio as Chair. Mr Leupold brings to the role over 20 years of professional experience in the energy sector from past roles at Ørsted, ABB and McKinsey.
Corio will be headquartered in the UK with offices in London and Edinburgh.