Developer Q&A: Corio CEO, Jonathan Cole
Corio Generation is the offshore wind developer spun off from Macquarie-owned Green Investment Group. In this interview, CEO Jonathan Cole explains potential partnerships and a new global institutional investment structure for 15 projects.
About this report
Corio is scanning the horizon for opportunities to expand its already sizable portfolio of offshore wind development. It launched almost exactly one year ago with 15GW inherited from Green Investment Group and is now working to develop over 30GW of projects. The developer-operator seems intent on growing fast.
Fresh from a recent auction win in Taiwan for a 600MW wind farm within its Formosa 3 project, it now has an eye on an upcoming auction in Ireland. Offshore sites in Latin America and Asia are next on the list.
Internally, the company is growing, too. Corio’s model is to be ready to manage any offshore wind project in any market at any stage in the lifecycle. To meet this objective, it relies on its team of 250 people, with the potential to hire 100 additional team members over the course of the next year.
We interviewed CEO Jonathan Cole, former Managing Director of Iberdrola Renewables Offshore, on the lifecycle stages of various projects. He also shared the company’s perspective on floating wind developments.
We discuss the following issues:
- First wind projects to reach financial close
- Ireland and UK project permitting
- Floating wind bankability and potential
- Developer’s outlook for global floating wind
- Future investment structures for offshore wind
- Potential for PPA-backed projects
- Floating wind in France and Norway