Macquarie’s Green Investment Group (GIG) is launching Corio Generation, a new offshore wind specialist.
Corio, which will be directed by Jonathan Cole, an ex-Iberdrola offshore executive, will begin operations in April 2022 with a project pipeline of over 15GW, making it one of the world’s largest.
Corio, a GIG portfolio company that operates independently, will take projects from conception to completion, including development and construction.
Corio will take a long-term partnership approach to project creation and management, backed by long-term financing generated both within Macquarie and from other parties, according to the company.
GIG’s existing portfolio, which includes previously announced initiatives in the UK, Europe, Taiwan, Korea, and Australia, will be continued by the business.
The company will also look for new ways to build world-class offshore wind assets that help local economies while also satisfying the energy demands of communities and corporate off-takers, according to the statement.
Over 100 employees will be transferred to the new company when it opens in April 2022, and it will continue to hire in the coming year.
“I am hugely excited by this unique opportunity to lead a business that combines some of the world’s best financial and industrial expertise – and I believe that Corio will play a significant role in accelerating the deployment of offshore wind around the world.” Cole said.
“From day one, we will be able to work with partners, suppliers and investors to deliver a major project pipeline that will not only provide vast quantities of clean affordable electricity but will also support thousands of green jobs.”
Corio will be chaired by Samuel Leupold, who is presently the head of GIG’s offshore wind energy division.
From previous positions at Orsted, ABB, and McKinsey, Leupold brings over 20 years of professional expertise in the energy sector to the role.
Corio will be based in the United Kingdom, with offices in London and Edinburgh, and will operate across Europe, as well as Japan, Korea, Taiwan, and Australia. The company will also look into expanding into the Americas.