Corio and Hyperion explore opportunities to build offshore wind projects off the coast of Portugal

Corio Generation and Hyperion Renewables have signed a Memorandum of Understanding (MoU) to work together in preparing applications for offshore wind tenders in Portugal. The Portuguese government in January 2023 announced a target of 10 GW of offshore wind by 2030, the majority of which will be floating offshore wind. The first auctions aure expected later this year.

Corio’s floating wind portfolio includes the 1.5 GW Gray Whale project in South Korea, which is expected to be one of the largest floating offshore wind farms in the world. In addition, the business is developing multiple floating projects in Europe in France, the UK and Norway.

Hyperion Renewables has developed 640 MW of projects across Iberia since the company was first established in 2006, and has a 3.4 GW pipeline across solar, wind, green hydrogen and storage technologies, including 180 MW of solar PV projects under construction.

Guillermo Martínez-Navas, Head of New Markets and Americas at Corio Generation said: “To help unlock Portugal’s offshore wind potential, we knew we needed to find a partner like Hyperion Renewables. We’re delighted to be working with an outstanding team that has a proven track record of developing solar power in Portugal and Spain, two of Europe’s leading markets for onshore renewables. As an early-stage market for offshore wind, it was essential to join forces with a Portuguese partner who intimately knows the local market and its regulatory landscape, and the team at Hyperion fits this description perfectly.”

Aytea Amandi, CEO of Hyperion Renewables said: “We will combine and leverage our skills to maximise our winning chances.”