ClimateTicker

Corio Generation

57Mixed / Improving· Provisional
0 followersOffshore wind development·London, United Kingdom
www.coriogeneration.com

UK-based offshore wind developer owned by Macquarie Asset Management with a multi-GW global development pipeline, including floating wind projects in Scotland and fixed-bottom projects in Ireland and Asia.

57/100
Mixed / Improving· Provisional

ClimateTicker Green Score · how it's calculated

Greenwashing risk: lowData confidence: medium

Ownership

Owned by

Why it's on ClimateTicker

Corio Generation was a pure-play offshore wind developer with a 30 GW global pipeline — one of the largest in the world — making its core business unambiguously climate-positive. However, the company ceased to exist as a standalone entity on 1 April 2026 after Macquarie failed to sell it amid a sector-wide offshore wind downturn, with projects being wound down or transferred on a case-by-case basis. Its climate credentials were real but its institutional fragility and lack of independently verified, company-specific ESG disclosures (separate from parent Macquarie/GIG reporting) temper the investment case.

mitigationCorio earned value by developing offshore wind projects from origination through construction and into operations, monetising via project sales, co-development partnerships (e.g. TotalEnergies, Bord Gáis), and ultimately long-term power generation revenues from corporate offtakers and grid supply; it was funded through Macquarie Asset Management's balance sheet rather than public markets.

Commitments & Certifications

other: Shortlisted — not confirmed winner ↗

Controversy & Greenwashing Watch

mediumCompany wound down after failed sale — projects cancelled

After failing to find a buyer in 2024–2025, Macquarie shut down Corio on 1 April 2026, with some projects written off, including the 2 GW Korea BadaEnergy portfolio and Taiwan Formosa 3 rights, leaving local partners and community stakeholders exposed.source ↗

lowNo standalone audited ESG or sustainability report published

Corio never published a standalone, independently audited sustainability or ESG report under its own name; all material disclosures were rolled into Macquarie/GIG group reporting, limiting external accountability despite operating a 30 GW public-interest infrastructure pipeline.source ↗

lowKorea withdrawal — disbanding local unit mid-development

Corio disbanded its Korean unit and exited joint offshore wind projects in Busan and Ulsan, contributing to broader uncertainty over South Korea's energy transition and leaving local partners without a co-developer.source ↗

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