General – Sale
Australia’s Macquarie has cancelled the sale of Corio Generation, one of the world’s largest offshore wind power developers, due to a lack of interest.
Macquarie engaged advisers last year to find a buyer for Corio Generation, which oversees 25 gigawatt (GW) pipeline of offshore wind projects spanning Europe, Asia-Pacific, and the Americas, Reuters reported in October.
Instead it will downsize the project. “Given challenging market conditions in the offshore wind sector, Corio Generation is refocusing its global operations to prioritise the development of a smaller portfolio of projects which have the clearest route through to construction,” a spokesperson for Corio told Reuters.
“This will also require a restructuring of the organisation to reflect that change in strategy. We are discussing this with our project partners and staff who may be affected by these changes,” the spokesperson added.
