Corio Generation, Green Investment Group’s (GIG) newly launched offshore wind business, is planning a major project in Australia.

Corio said the yet-to-be approved 2.5GW Great Eastern Offshore Wind project will be constructed 22km off the Wellington Shire coast in Gippsland, Victoria.

The project, in addition to a previously announced 1.5GW Great Southern Offshore Wind project, takes Corio’s planned Australian offshore wind energy projects to 4GW.

Jonathan Cole, CEO of Corio Generation, said: “We see a significant opportunity for offshore wind in Australia, which enjoys an abundance of this natural resource.

”This, together with clear regulatory frameworks and government support, means offshore wind can contribute to Australia’s energy transition, as well as support local businesses and jobs in the green economy.”

Launched in April this year, UK-headquartered Corio is a portfolio company of Macquarie’s GIG, operating on a standalone basis.

Corio will continue the development of GIG’s existing portfolio and will also seek new opportunities, GIG said at the time.

Last month, Corio teamed up with Ontario Teachers’ Pension Plan Board to finance the development of an initial portfolio of up to 9GW in wind projects.

As part of the partnership, Ontario Teachers’ said it will invest up to US$1bn (€932m) in development capital in the partnership’s portfolio which consists of 14 fixed bottom and floating projects in South Korea, Taiwan, Japan, Ireland and the UK, all of which are currently under development by Corio.

The companies also said they will also explore opportunities to expand the partnership through the creation or acquisition of new projects. 

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