Skip to main content

Corio Generation partners with Q-Energy to unleash Spain’s offshore wind potential

Published by , Editorial Assistant
Energy Global,


Corio Generation is partnering with Q-Energy, a global investment and management platform focused on renewable energy, the energy transition, and sustainability, to explore opportunities to develop floating offshore wind power in Spain.

The two companies have signed a partnership agreement and begun preliminary work to identify suitable sites for floating offshore wind across the Spanish coastline.

The announcement comes as Spain looks to massively increase the share of renewables in domestic electricity generation by 2030. To help achieve this, the government has declared its ambition to build up to 3 GW of floating offshore wind by the end of the decade under a new roadmap for offshore wind power.

Global offshore wind developer Corio Generation, a portfolio company of Macquarie’s Green Investment Group, is home to one of the largest offshore wind development portfolios globally, with projects totalling more than 20 GW under development in Europe, Asia-Pacific, and the Americas. Launched in April 2022, the business brings together a sector-leading industrial, finance, development, and asset management team to develop innovative floating and traditional fixed-bottom projects worldwide.

Since 2007, the Q-Energy team, composed of more than 400 professionals across offices in Madrid, Spain; London, England; Berlin, Germany; and Milan, Italy, has managed investments of more than €11 billion in renewable energies worldwide. Offering integrated investment and asset management services, Q-Energy manages more than 1.6 GW of energy, including more than 1 GW of solar photovoltaics (PV), 243 MW of solar thermal power (CSP), and 350 MW of wind power across Spain, Germany, Poland, and Italy. Q-Energy also has more than 4000 MW of assets under development at various stages of completion.

Alejandro de Hoz, Global Head of Development and 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.

“Offshore wind is reliable, cost-competitive, and complements the seasonality of other renewables. By introducing offshore wind to Spain’s clean energy mix, we can support the country to reach its climate targets and help provide energy security for decades to come,” he added.

Iñigo Olaguibel, CEO of Q-Energy, commented: “We are excited to join forces with Corio. This partnership is yet another important milestone on our mission to accelerate the energy transition, promoting energy diversification and ensuring security of supply. 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.”

 

 

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

Energy Global's Autumn 2022 issue

The Autumn 2022 issue of Energy Global hosts an array of technical articles focusing on wave & tidal, waste-to-energy, energy storage, solar technology, and more. This issue also features a regional report outlining how green hydrogen is playing a key role in the renewable transition across Europe .

Read the article online at: https://www.energyglobal.com/wind/28092022/corio-generation-partners-with-q-energy-to-unleash-spains-offshore-wind-potential/

You might also like

 
 

Embed article link: (copy the HTML code below):