Corio Generation develops 2.5 GW offshore wind farm

Corio Generation is planning a major new offshore wind project in Australia called Great Eastern Offshore Wind. If approved for construction following ongoing feasibility studies and consultations with local stakeholders, the project could be one of the first tranche of offshore wind projects to be built in Australia.

Located 22 kilometers off the coast of Wellington Shire in Gippsland, Victoria, it could provide enough clean energy for around 1.6 million homes.

With this project, Corio’s planned offshore wind energy projects in Australia now add up to a total of 4 GW. These include the previously announced Great Southern offshore wind project off Gippsland’s Bass Coast, which is expected to have an installed capacity of up to 1.5 GW.

“We see a significant opportunity for offshore wind in Australia, which has an abundance of this natural resource,” said Jonathan Cole, CEO of Corio Generation. “Together with a clear regulatory framework and government support, this means that offshore wind energy can contribute to Australia’s energy transition and support local businesses and green economy jobs.”

“While offshore wind is a new technology in Australia, it is well established in countries like the UK where it represents a proven, clean and cost-effective source of electricity. Offshore wind will play an important role in the renewable energy mix supporting Australia’s transition to a lower carbon economy,” adds Cole.

Corio Generation was founded in April 2022 as a specialist offshore wind company and is a standalone portfolio company of Macquarie’s Green Investment Group (GIG). GIG is a specialist green investor within Macquarie Asset Management, part of the Macquarie Group.

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