Macquarie Group, an Australia based financial conglomerate’s green investment unit, has announced launching an offshore wind energy business, which will be operational from April this year.
As per reports, the new enterprise, named Corio Generation, will be a unit of Macquarie’s Green Investment Group (GIG) and will have a worldwide project pipeline of 15 gigawatts, which will be the largest in the world.
The Green Investment Group (GIG), acquired by Macquarie from the British administration back in 2017, presently has green energy projects underway to produce 35 gigawatts of power.
According to credible sources, plethora of organizations have recently vowed to encourage the utilization of renewable and clean energy with the ongoing pressure by the investor to meet, disclose, and track emission targets.
Macquarie generates a major proportion of its revenue from its commodities trading arm and has disclosed record quarterly profits the last month owing to robust commodities market.
As per credible sources, Corio will be driven by Jonathan Cole, who will be appointed as the Chief Executive Officer of the business, after being recognized as the head of Spanish electricity utility company Iberdola’s offshore wind businesses for more than a decade.
Apparently, Corio’s headquarters will be in the United Kingdom, with office branches spread across Edinburgh and London along with being active in the European markets as well as Australia, Japan, Taiwan, and Korea.
Macquarie commented that Corio also plans to enter and explore the market opportunities across America.
ABOUT MACQUARIE GROUP
Macquarie is a global financial services platform functional across 33 markets in retail and business banking, assets management, leasing and asset financing, wealth management, commodity trading, market access, capital raising, renewables development, principal investment, and specialist advisory. Its diverse operations are combined with a rigid capital position and strong risk management framework, contributing to its 52-year-old record of profit.