'Vital' Brazilian offshore wind bounds for big time with Corio 5GW complex plan
Macquarie-owned developer’s first foray into Americas comes in wake of announced giant Great Eastern project off Australia, taking its global project pipeline to over 20GW
New-model offshore wind developer Corio Generation has unveiled plans for a quintet of projects off Brazil totalling over 5GW, as the highly prospective South American nation’s sector pipeline continues to swell.
The plan, in the works for some 18 months, comes as the Brazilian government sets out ambitions to diversify the country’s oil-dominated energy mix using its vast offshore wind resource, building on the unveiling in January of new regulatory framework for the sector that is set to come into effect mid-year.
“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,” said Corio CEO Jonathan Cole.
“This is an historic day for Corio, marking our company’s entry into the Americas. As a specialist developer of offshore wind energy, with strong industrial expertise and deep access to long-term capital, Corio is delighted to partner with Servtec, one of the most respected renewable generation developers in Brazil.”
Lauro Fiuza Neto, managing partner at Servtec Energia, said: “As a long-standing player in the renewable power industry, we’ve led efforts to build what is now a 22GW onshore wind power market. We are excited to again embark on a journey to create a complementary source of clean energy for Brazil towards the low-carbon economy of the future.”
Corio and Servtec said the leases for the five fixed-bottom projects in the country’s northeastern, southeastern and southern offshore areas, were based on joint analysis of marine and environmental and technical considerations
Last month, Brazilian state-controlled oil group Petrobras said it would join Norway’s Equinor in building one of the world’s largest offshore wind farms off Brazil, the 4GW Aracatu.