Macquarie launches 'magic ingredient' Corio to speed finance of global offshore wind build
Headed up by sector heavyweights Jonathan Cole and Samuel Leupold, new-model developer aims to accelerate existing 15GW pipeline plus 'next generation' projects in emerging markets
International investment house Macquarie has launched a pure-play offshore wind unit to build on the development of its 15GW project pipeline to accelerate sector deployment around world, led by two giants of the industry, Jonathan Cole and Samuel Leupold.
Spun out of the company’s fully owned Green Investment Group (GIG), the new business, Corio Generation, consolidates the shift by Macquarie “from financial sponsor to developer”, said Mark Dooley, global head of GIG, and speeds progress of a portfolio of projects in Europe and Asia-Pacific as well as the “next generation” of offshore wind in established and emerging markets worldwide.
“As our transition has matured, we have recognised development [of offshore wind projects] is best done as an industrial business by an industrial organisation,” he said, speaking to Recharge before the announcement of the new company.