Corio Generation, an offshore wind portfolio company of Macquarie’s Green Investment Group (GIG) is joining forces with South Korean engineering and construction company Daewoo E&C to explore collaboration opportunities in developing fixed-bottom offshore wind projects in South Korea.
The two companies have signed a memorandum of understanding that covers all three projects – Gijang, Cheongsapo and Dadaepo – in Corio’s portfolio in Busan, with the potential for pursuing further opportunities across the Asia-Pacific region.
Under the deal, Corio will be responsible for project development, investments and project management while Daewoo E&C will provide engineering, procurement and construction (EPC) support.
Earlier this year, Corio also signed a deal with South Korea’s SK Oceanplant to supply offshore substations and substructures for projects its project in the country and other markets across Asia-Pacific.
Corio is developing nearly 3 GW of offshore wind in South Korea through its Busan and BadaEnergy portfolios. The separate BadaEnergy portfolio, developed jointly with TotalEnergies and SK Ecoplant, comprises both floating and fixed-bottom wind farms off the coast of Ulsan and South Jeolla province, including the 1.5 GW Gray Whale projects, one of the world’s largest floating offshore wind developments.
