Corio Generation and Q-Energy join forces for floating wind power in Spain

September 27 (Renewables Now) – Global offshore wind specialist Corio Generation has teamed up with Madrid-based energy transition investor Q-Energy to explore development opportunities in Spain’s nascent floating wind sector.

In a joint statement on Tuesday, the parties said they had signed the partnership agreement and started preliminary work to identify suitable sites for floating wind farms along Spain’s coasts. They did not mention any capacity figures and did not report any plans to participate in the Spanish floating wind auction that the market is expecting this year.

The Corio/Q-Energy alliance is the latest in a series of floating wind partnerships announced this year in response to the Spanish government’s roadmap for ocean-based renewable energy, in which the target for wind floating is set between 1 GW and 3 GW of capacity by 2030.

More recently, Irish ocean energy developer Simply Blue Group and two Spanish companies, Proes Consultores and FF New Energy Ventures, joined the race by forming a joint venture (JV) to pursue floating wind projects worth 2 GW off Spain and Portugal.

This spring, floating wind pairings were announced between Spanish company Capital Energy and Shell Plc (LON:SHEL), Naturgy Energy Group SA (BME:NTGY) and Norwegian multi-energy group Equinor ASA (NYSE:EQNR) and Repsol SA (BME: REP) and Ørsted A/S (CPH:ORSTED).

Corio Generation, a portfolio company of Macquarie’s Green Investment Group, has had a global presence since its launch in April 2022, accumulating more than 20GW of projects in Europe, Asia-Pacific and the Americas. Q-Energy, for its part, manages more than 1.6 GW of energy capacity, including solar photovoltaic, concentrated solar and wind in Spain, Germany, Poland and Italy.

“When you combine the industrial capabilities and long-term capital provided by Corio with Q-Energy’s vast experience in renewables and knowledge of the local market, we believe there is no better solution. to help unlock Spain’s offshore wind potential,” commented Alejandro de Hoz, Global Head of Development and Deputy Managing Director of Corio Generation.

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