Corio: new offshore wind developer enters market

As an independently operating portfolio company of GIG, Corio will take projects from inception through development, construction, and operation. Corio will take a long-term, partnership approach to project development and management, supported by access to long-term capital from both Macquarie and third parties.

Corio will continue to develop GIG's existing portfolio, which includes previously announced projects in the UK, Europe, Taiwan, Korea and Australia. It also plans to expand in new markets.

Corio will be led by Jonathan Cole, who joins the company as CEO after more than a decade as head of Iberdrola's offshore wind business. "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. 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," Cole said.