Corio Generation has unveiled plans for an up to 2500MW offshore wind farm off the coast of the Australian state of Victoria.
The Great Eastern project, planned for 22km of off the Wellington Shire coast in Gippsland, could supply about 1.6 million homes, the company said.
Corio said the announcement means its planned Australian offshore wind energy projects now total 4GW.
This includes the previously announced 1.5GW Great Southern project, located off Gippsland’s Bass Coast.
Corio Generation chief executive Jonathan Cole said: “We see a significant opportunity for offshore wind in Australia, which enjoys an abundance of this natural resource.
“This, together with clear regulatory frameworks and government support, means offshore wind can contribute to Australia’s energy transition, as well as support local businesses and jobs in the green economy.”
“While offshore wind is a new technology in Australia, it is well established in countries such as the UK where it is a proven, clean and cost-competitive source of electricity.
“Offshore wind will play an important role in the mix of renewable energy that support Australia’s transition to a lower-carbon economy,” he added.
Corio Generation is a portfolio company of Macquarie’s Green Investment Group, operating on a standalone basis.
Launched as a specialist offshore wind business in April 2022, it brings together an international team of financial and industrial experts to harness offshore wind energy worldwide.