Corio Generation, an offshore wind portfolio company of Macquarie’s Green Investment Group, and Ireland’s energy supply firm Bord Gáis Energy have teamed up to explore opportunities to supply the country’s electricity market with offshore wind power.
The agreement is Bord Gáis Energy’s entry into the offshore wind sector while Corio has a global pipeline of more than 30GW and is currently developing the 450MW Sceirde Rocks wind farm off the west coast of Ireland.
The partnership between the two aligns with the government’s strategy to develop Ireland’s significant offshore wind resource and will contribute to the security of supply and deliver balanced regional economic development.
Any specific activities regarding the Irish offshore wind sector will be undertaken by Bord Gáis Energy and Corio via a newly registered Irish company Fuinneamh Óg Teoranta.
“Ireland is exceptionally well-placed to expand its offshore wind capabilities and enjoy the many benefits this could bring, from greener and more reliable energy to widespread economic investment and community gain. [With] Corio’s significant development expertise and Bord Gais’ outstanding track record as a market leader in Ireland’s energy sector, we have established a partnership that is ready to play a major role in Ireland’s energy transition,” said Jonathan Cole, CEO of Corio Generation.
“For Bord Gáis Energy, today’s announcement is part of our wider strategic objective to energise a greener, fairer future in Ireland, offering end-to-end green energy solutions required for the transition to net zero,” added Dave Kirwan, managing director at Bord Gáis Energy.
The Irish government has set a goal of generating 80% of electricity through renewables by 2030, including 5GW from offshore wind. In March 2024, the Department of Energy, Climate, and Communications published Ireland’s first-ever industrial strategy for offshore wind.
This was followed in May with a future framework document that outlined Ireland’s long-term approach to the growth of offshore wind generation, and a publication on potential areas of development off the south coast of Ireland ahead of a planned auction round in late 2024.
