Global offshore developer Corio Generation added Spain to its fast-growing roll call of target markets as it announced a floating wind alliance with investment platform Q-Energy.
Macquarie-owned Corio and Q-Energy “have signed a partnership agreement and begun preliminary work to identify suitable sites for floating offshore wind across the Spanish coastline”.
Spain and neighbouring Portugal have raced up the agenda for floating development, in the Spanish case underpinned by a government goal to have 3GW in the water by 2030.
Alejandro de Hoz, deputy CEO of Corio Generation said: “When you combine the industrial capabilities and long-term capital Corio provides with Q-Energy’s vast renewables experience and local market knowledge, we believe there is no better match for helping to unleash Spain’s offshore wind potential.
“The deep waters around the Spanish coastline are ideally suited to latest innovations in floating platforms. There is now a huge opportunity for Spain to become a European hub and international benchmark in delivering offshore wind, with all the benefits that offers in terms of creating a value chain and generating green jobs and economic development.”
Corio has since its formation by Macquarie earlier this year rapidly emerged as one of the most ambitious offshore wind players globally, with plans ranging from established markets such as the UK to important emerging opportunities like Vietnam, Australia and Brazil.
Madrid-based Q-Energy has managed 1.6GW of operating renewables with another 4GW at various stages of development.
Iñigo Olaguibel, CEO of Q-Energy said: “Against the backdrop of the Spanish government’s clear commitment to boosting floating offshore wind, we believe now is the perfect moment to explore opportunities across the Spanish coastline, bringing together Corio’s and Q-Energy’s complementary experience and expertise.”
