GIG's Corio unveils plans for 5 GW of offshore wind in Brazil

Corio Generation, a portfolio company of Macquarie’s Green Investment Group (GIG), today announced plans for more than 5,000 MW of offshore wind projects in Brazil.

The company said in a statement it has five fixed-bottom projects in early-stage development with local power producer Servtec as partner. The two have spent over 18 months analysing opportunities in the Brazilian market, the announcement says.

Corio and Servtec now intend to apply for leases for these five schemes, which are being developed in the country’s north-eastern, south-eastern and southern maritime areas. Their sizes range from 500 MW to more than 1,200 MW.

More details are available in the following table.

“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,” stated Jonathan Cole, CEO of Corio Generation.

As of this month, a new regulatory framework for offshore wind is effective in Brazil.

Launched in April of this year, Corio already has a global offshore wind development portfolio exceeding 20,000 MW. Last week, it also announced an up-to-2,500-MW wind project off the coast of Victoria in Australia, while a month earlier it unveiled a partnership with Ontario Teachers’ Pension Plan Board to finance the development of up to 9,000 MW around the world.

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