First Australia, now Brazil: Corio Generation plans further offshore wind farms

Corio Generation has announced it has five offshore wind farms in Brazil with a total capacity of more than 5 GW in early stages of development. The company is part of Macquarie's Green Investment Group, but operates on a standalone basis. Corio was established in April 2022 and already has one of the largest offshore wind portfolios in the world, currently comprising over 20 GW.

Subject to completion of documentation and regulatory approvals, Corio plans to build the five offshore wind farms in partnership with Brazilian power generation company Servtec. Together, they plan to bid for leases for five onshore projects in the northeastern, southeastern and southern maritime regions of the country, each with installed capacity ranging from about 500 MW to more than 1.2 GW.

The companies have been working together for more than 18 months to analyze opportunities in the Brazilian market. Their joint analysis of the country's marine areas, as well as environmental and technical considerations, have led them to select these five sites for further development.

Jonathan Cole, CEO of Corio Generation said: “Brazil is blessed with immense wind resources along its coastline, offering a vital new source of clean, affordable and reliable energy. We see huge opportunity for harnessing Brazil’s ocean wind energy, bringing economic investment and green jobs to the country.”

Lauro Fiuza Neto, Managing Partner at Servtec Energia said: “It is an honour for Servtec to join forces with Corio to support offshore wind power in Brazil. As a long-standing player in the renewable power industry, we’ve led efforts to build what is now a 22 GW onshore wind power market. We are excited to again embark on a journey to create a complementary source of clean energy for Brazil towards the low-carbon economy of the future.”