Bord Gáis Energy & Corio Generation Explore Irish Offshore Wind

Corio Generation, an offshore wind portfolio company of Macquarie’s Green Investment Group, has partnered with Ireland’s energy supply firm Bord Gáis Energy to explore supplying the country’s electricity market with offshore wind power.

This agreement marks Bord Gáis Energy’s entry into the offshore wind sector, while Corio Generation, with a global pipeline exceeding 30GW, is currently developing the 450MW Sceirde Rocks wind farm off Ireland’s west coast.

The collaboration aligns with the Irish government’s strategy to harness the country’s substantial offshore wind resources, enhancing supply security and promoting balanced regional economic growth.

All activities related to the Irish offshore wind sector will be managed by Bord Gáis Energy and Corio through a newly established Irish company, Fuinneamh Óg Teoranta.

“Ireland is exceptionally well-placed to expand its offshore wind capabilities and enjoy the many benefits this could bring, from greener and more reliable energy to widespread economic investment and community gain. [With] Corio’s significant development expertise and Bord Gáis’ outstanding track record as a market leader in Ireland’s energy sector, we have established a partnership that is ready to play a major role in Ireland’s energy transition,” said Jonathan Cole, CEO of Corio Generation.

“For Bord Gáis Energy, today’s announcement is part of our wider strategic objective to energise a greener, fairer future in Ireland, offering end-to-end green energy solutions required for the transition to net zero,” added Dave Kirwan, managing director at Bord Gáis Energy.

The Irish government has set an ambitious goal of generating 80% of electricity from renewables by 2030, including 5GW from offshore wind. In March 2024, the Department of Energy, Climate, and Communications released Ireland’s first industrial strategy for offshore wind.

This was followed in May by a framework document outlining Ireland’s long-term approach to expanding offshore wind generation, and a publication identifying potential development areas off the south coast of Ireland ahead of a planned auction round in late 2024.