Corio Generation has partnered with global investment platform partnering Q-Energy to explore opportunities to develop floating offshore wind power in Spain.
The two companies have signed a partnership agreement and begun preliminary work to identify suitable sites for floating offshore wind across the Spanish coastline.
The announcement comes as the Spanish government is aiming to build up to 3GW of floating offshore wind by 2030 under a new Roadmap for Offshore Wind Power.
Q-Energy manages more than 1.6GW of energy, including more than 1GW of solar PV, 243MW of solar thermal power (CSP) and 350MW of wind power across Spain, Germany, Poland, and Italy Corio said.
It also has more than 4,000MW of assets under development at various stages of completion, the Macquarie-owned developer added.
Corio global head of development and deputy chief executive Alejandro de Hoz said: “When you combine the industrial capabilities and long-term capital Corio provides with Q-Energy’s vast renewables experience and local market knowledge, we believe there is no better match for helping to unleash Spain’s offshore wind potential.
“The deep waters around the Spanish coastline are ideally suited to latest innovations in floating platforms.
“There is now a huge opportunity for Spain to become a European hub and international benchmark in delivering offshore wind, with all the benefits that offers in terms of creating a value chain and generating green jobs and economic development.
“Offshore wind is reliable, cost-competitive and complements the seasonality of other renewables.
“By introducing offshore wind to Spain’s clean energy mix, we can support the country to reach its climate targets and help provide energy security for decades to come.”
Q-Energy chief executive Iñigo Olaguibel said: “We are excited to join forces with Corio. This partnership is yet another important milestone on our mission to accelerate the energy transition, promoting energy diversification and ensuring security of supply.
“Against the backdrop of the Spanish government’s clear commitment to boosting floating offshore wind, we believe now is the perfect moment to explore opportunities across the Spanish coastline, bringing together Corio’s and Q-Energy’s complementary experience and expertise.”