OffshoreRenewables

Macquarie’s Corio unveils 2.5 GW Australian offshore wind scheme 

Corio, a portfolio company of Macquarie’s Green Investment Group (GIG), has unveiled plans for a 2.5 GW offshore wind farm off the coast of the Australian state of Victoria.

The project, named Great Eastern Offshore Wind, would be located 22 km off the Wellington Shire coast in Gippsland, Victoria, and if approved for construction, could supply enough energy for around 1.6m homes.

Including the previously announced Great Southern Offshore Wind project, located off Gippsland’s Bass Coast, Corio’s planned Australian offshore wind energy projects now total 4 GW.

Victoria became the first Australian state to set offshore wind goals. The state’s offshore wind policy calls for the procurement of projects that will bring at least 2 GW of offshore wind online by 2032, with targets of 4 GW for 2035 and 9 GW for 2040.

Currently, the most advanced offshore wind project in the country is Copenhagen Infrastructure Partners (CIP)’s 2.2 GW Star of the South, with the potential to supply up to 20% of Victoria’s electricity needs, the equivalent of around 1.2m homes.

Corio was established by GIG in April 2022 as a specialist offshore wind business and is operating on a stand-alone basis. It recently entered into a joint venture with investor Ontario Teachers’ to fund the development of an initial portfolio of up to 9 GW of offshore wind projects in South Korea, Taiwan, Japan, Ireland and the UK.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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