Corio Generation is planning a major new offshore wind project in Australia, named Great Eastern Offshore Wind. If approved for construction following ongoing feasibility studies and consultation with local stakeholders, the project could be among the first tranche of offshore wind projects built in Australia.
Located 22 kilometers off the Wellington Shire coast in Gippsland, Victoria, it could supply enough clean energy for around 1.6 million homes.
With this project, Corio’s planned Australian offshore wind energy projects now total 4 GW. This includes the previously announced Great Southern Offshore Wind project, located off Gippsland’s Bass Coast, which is expected to have an installed capacity of up to 1.5 GW.
“We see a significant opportunity for offshore wind in Australia, which enjoys an abundance of this natural resource,” says Jonathan Cole, CEO of Corio Generation. “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.”
“While offshore wind is a new technology in Australia, it is well established in countries such as the U.K. where it is a proven, clean and cost-competitive source of electricity. Offshore wind will play an important role in the mix of renewable energy that support Australia’s transition to a lower-carbon economy,” Cole adds.
Launched as a specialist offshore wind business in April 2022, Corio Generation is a portfolio company of Macquarie’s Green Investment Group (GIG), operating on a standalone basis. GIG is a specialist green investor within Macquarie Asset Management, part of Macquarie Group.