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Corio and Globalsat partner to explore offshore wind opportunities in Greece

Corio Generation and Globalsat Group have signed a partnership agreement to explore opportunities for offshore wind development in Greece, combining Corio’s expertise in auction preparation and project development with Globalsat’s deep knowledge of the country’s regulatory and economic framework.

Under the Memorandum of Understanding (MoU), Corio and Globalsat will work together to assess potential areas for the development of offshore wind farms, conducting engineering studies and research into relevant wind, metocean and marine conditions.

Benefitting from Globalsat’s long-term presence in the Greek market in the fields of technology and green energy, as well as its experience with national regulatory and energy authorities, the two companies will assess any official tender opportunities that arise with a view to bidding for rights and progressing developments to completion.

The opportunity for offshore wind development in Greek waters is expected to increase in the coming years. Greece has attractive conditions for renewable energy generation through offshore wind, while on 31 October the Greek government set out its ambition to deliver at least 4.9 GW of offshore wind energy capacity by 2030-32 as part of its National Energy and Climate Plan (NECP). That ambition stretches to a potential 12.4 GW of capacity, spread across as many as 25 identified sites, after the 2030-32 horizon.

Guillermo Martinez-Navas, Head of Americas, New Markets & Portfolio Strategy at Corio, said: “This is an exciting partnership between two companies who are leaders in their field – with our track record of developing highly competitive and attractive offshore wind development proposals, and winning seabed rights across the globe, we are ideally placed to play an important role in the next chapter of Greece’s renewable energy journey.

“Globalsat is an ideal partner for us in Greece, with its own track record of highly successful commercial activities, an impressive understanding of the energy and regulatory factors relevant to this market, and a commitment to technological innovation that supports the transition to a greener, low carbon future.”

Vasilis Papadopoulos, CEO of Globalsat Group, said: “I am thrilled to announce a significant milestone in our journey towards a sustainable and greener future. We have entered into a transformative partnership that will undoubtedly reshape the renewable energy landscape. This strategic partnership marks a crucial step forward in our commitment to combat climate change, reduce carbon emissions, and provide clean, renewable energy to power the future.

“Together with Corio Generation, we will be embarking on an ambitious mission to develop offshore wind projects that will not only harness the incredible power of wind but also push the boundaries of innovation and sustainable energy solutions. These projects will not only enhance our energy portfolio but also create economic opportunities and jobs in the communities where we operate.”

Corio Generation is one of the world’s leading offshore wind developers, with projects across the globe including the recently-awarded Attentive Energy One project in New York. It has multiple projects underway in Europe and is actively exploring opportunities in the southern Europe region, including in Portugal and Greece.

The partnership with Globalsat, a leading Greek company operating in the technology sector for more than 20 years, exemplifies the two partners’ commitment to accelerating the development of offshore wind projects in Greece, contributing to a more sustainable energy mix and a brighter future for generations to come.