Corio has announced plans for five early-stage development offshore wind projects in Brazil totalling more than 5 GW.
The Green Investment Group (GIG) portfolio company, which has an offshore wind development portfolio at over 20 GW, said it intends to develop the projects, subject to finalisation of documentation and regulatory approvals, alongside Brazilian established onshore wind player Servtec.
The partners said they have been working together for more than 18 months to analyse opportunities and are now looking to apply for leases for fixed-bottom projects in the country’s north-eastern, south-eastern and southern maritime areas, ranging from about 500 MW to over 1.2 GW in installed capacity.
“This is a historic day for Corio, marking our company’s entry into the Americas,” said Jonathan Cole, CEO of Corio, adding, “Brazil is blessed with immense wind resources along its coastline, offering a vital new source of clean, affordable and reliable energy. We see a huge opportunity for harnessing Brazil’s ocean wind energy, bringing economic investment and green jobs to the country.”
Today’s announcement comes as the Brazilian federal government has set out plans to diversify the country’s renewable energy mix by unlocking the coastline’s offshore wind capacity. A January decree introduced a new regulatory framework for offshore wind and is effective from this June.