Corio Generation and Bord Gáis Energy to explore Ireland offshore wind opportunities
Partnership could offer end-to-end green energy solutions
Corio Generation and Bord Gáis Energy have announced a new partnership to explore opportunities to supply Ireland’s electricity market with green electricity from offshore wind.
The agreement represents Bord Gáis Energy’s entry into the offshore wind arena and will play an important role in its ongoing commitment to expand its renewable energy portfolio. Corio, a leading global offshore wind developer with a global pipeline of more than 30 GW, is currently developing the 450 MW Sceirde Rocks wind farm off the west coast of Ireland.
The Bord Gáis Energy/Corio partnership aligns with the government’s strategy to develop Ireland’s significant offshore wind resource, which will contribute to Ireland’s climate action targets and maximise the economic impact of future renewable energy use, while also contributing to security of supply and delivering balanced regional economic development.
Jonathan Cole, CEO of Corio Generation, said:
“With its extensive coastline, abundant natural resources, and a clear and ambitious government strategy, 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.
“By combining Corio’s significant development expertise and Bord Gais’ 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. I am delighted to announce this partnership and look forward to the challenges, opportunities and many successes that lie ahead.”
Dave Kirwan, Managing Director, Bord Gáis Energy said:
“At Bord Gáis Energy, we believe all energy can be green energy and that this can also improve Ireland’s energy security. This significant partnership with Corio will combine our power generation and route to market expertise, the financial backing of Centrica, and Corio Generation’s global experience in the development of offshore wind projects.
“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.”
The Irish government has set a goal of generating 80% of electricity through renewables by 2030, including 5 GW from offshore wind.
In March 2024, the Department of Energy, Climate and Communications published Ireland’s first ever industrial strategy for offshore wind, with the aim of building a strong and resilient offshore wind supply chain to support the development of offshore wind projects in Ireland and abroad.
This was followed in May 2024 with two further announcements: a future framework document that outlined Ireland’s long-term approach to the growth of offshore wind generation, and a publication on potential areas of development (DMAPS) off the south coast of Ireland ahead of a planned auction round in late 2024.
Bord Gáis Energy and Corio will continue to assess the emerging opportunities in the offshore wind sector in Ireland. Any specific activities would be undertaken through a newly-registered Irish company, Fuinneamh Óg Teoranta, in order to support the growth of the Irish Offshore wind industry recently identified in the government publication Powering Prosperity – Ireland’s Offshore Wind Industrial Strategy.
About Bord Gáis Energy
Bord Gáis Energy, one of Ireland’s leading energy supply and services providers, has been serving Irish families and business for almost 50 years. In 2014 it joined the Centrica group. Today, as an integrated energy company, Bord Gáis Energy is playing a leading role in Ireland’s energy transition, committed to achieving net zero by 2045 and helping its customers reach net zero by 2050.
For more information visit: www.bordgaisenergy.ie/company/about-us
About Corio Generation
Corio Generation is a portfolio company of Macquarie Asset Management operating on a standalone basis. We have a project pipeline of over 30 GW. Our global team of offshore wind specialists take projects from origination, through development and construction, and into operations.
We apply a long-term partnership approach to the creation and management of projects, underpinned by access to long-term capital. Working in established and emerging markets, with floating and traditional fixed-bottom technologies, our projects support local economies while meeting the energy needs of communities and corporate offtakers sustainably, reliably, safely and responsibly.