Corio Generation, a portfolio company of Macquarie’s Green Investment Group, is partnering with Morwind, a specialist wind developer based in South-west England, to compete for floating offshore wind rights in the UK’s Celtic Sea.
The partnership is expected to combine Corio’s international industrial expertise and access to capital with Morwind’s specialist regional knowledge and local stakeholder relationships to identify and invest in new floating wind opportunities in the region.
Jonathan Cole, CEO of Corio Generation, said: “We believe the Celtic Sea can accommodate significant new offshore wind capacity and are looking closely at opportunities in partnership with regional experts, Morwind.
“Bringing innovative floating wind power technology to the UK’s South-west can ensure the region is at the leading edge of the green industrial revolution. This will provide homes and businesses with clean, affordable and reliable electricity, encourage investment in local communities and support jobs in the new economy.”
The UK government is looking to offshore wind as a major source of secure and affordable, low-carbon electricity. The British Energy Security Strategy announced by the UK government in April 2022 increased the national offshore wind target to 50 GW by 2030, including 5 GW for floating projects.
Last November, the Crown Estate published initial proposals for floating wind seabed leasing, with projects in English and Welsh waters expected to be delivered during the early 2030s. Rights could be agreed with developers as early as 2023.
