Corio Enters Spanish Floating Offshore Wind Market

Corio Generation and Q-Energy, a global investment and asset management platform focused on renewable energy, have begun preliminary work to identify suitable sites for floating offshore wind in Spain that the two companies plan to develop together.

The companies are working under a partnership agreement focused on exploring opportunities to develop floating offshore wind projects in the country that aims to have up to 3 GW of floating wind installed in 2030, as outlined in the offshore wind roadmap approved by the Spanish Government in December 2021.

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“The deep waters around the Spanish coastline are ideally suited to latest innovations in floating platforms. There is now a huge opportunity for Spain to become a European hub and international benchmark in delivering offshore wind, with all the benefits that offers in terms of creating a value chain and generating green jobs and economic development”, said Alejandro de Hoz, Global Head of Development and Deputy CEO of Corio Generation.

“Against the backdrop of the Spanish government’s clear commitment to boosting floating offshore wind, we believe now is the perfect moment to explore opportunities across the Spanish coastline, bringing together Corio’s and Q-Energy’s complementary experience and expertise”, said Iñigo Olaguibel, CEO of Q-Energy.

Q-Energy has managed investments of more than EUR 11 billion in renewable energies worldwide and manages more than 1.6 GW of renewable energy assets, with more than 4,000 MW of assets under development at various stages of completion, according to a joint press release from the two partners.

Corio Generation, a portfolio company of Macquarie’s Green Investment Group (GIG) has an offshore wind development portfolio totalling more than 20 GW in projects under development in Europe, Asia-Pacific, and the Americas.

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Photo: Image for illustrative purposes only. Source: Principle Power