Corio Generation

What Corio Generation does

Corio Generation was a London-headquartered, specialist offshore wind project developer founded in 2022 and wholly owned by Macquarie Group's infrastructure fund. The company's core activity was the development of utility-scale offshore wind farms — from early-stage consenting through to project readiness for tender, PPA, or equity-sale monetization — targeting government energy authorities and national grid operators seeking to meet renewable capacity targets. Its primary product exposures were the 1.5GW Outer Dowsing project in the UK North Sea (co-developed with TotalEnergies and Gulf Development, with up to 100 turbines and projected to power over 1.6 million UK households) and the 450MW Sceirde Rocks project off the Irish coast (developed through subsidiary Fuinneamh Sceirde Teoranta).

The business model was project-development led rather than asset-operating: Corio originated projects, secured regulatory consents and seabed agreements, formed co-development consortia with energy majors, and ultimately exited via tenders, PPAs, or co-investment equity sales. There were no disclosed consumer or commercial pricing models; project economics were determined by government tender allocations, power purchase agreements, and equity co-investment structures. Revenue was not disclosed in available materials, consistent with a pre-revenue development-stage company reliant on parent-company capital.

As of 1 April 2026 Corio Generation ceased operating as a standalone business. The Sceirde Rocks planning application had been withdrawn in January 2026 (forfeiting a €35.4 million performance bond) and the Korean unit was disbanded in April 2026 after failing to find a buyer, as part of a corporate restructuring to focus on a smaller global portfolio. Macquarie Group continues to manage a number of Corio's former projects, including Outer Dowsing. The CEO, Samuel Leupold (previously of Dong Energy / Orsted heritage), has been nominated to Orsted's board.

Name

Corio Generation

Legal name

Corio Generation

Website

https://coriogeneration.com

Company type

Private

Founded year

2022

Operating status

Closed

Headcount range

251–500 employees

Short description

Corio Generation was a Macquarie Group-backed offshore wind project developer that originated and consented utility-scale wind farms, serving government energy authorities and grid operators. It ceased standalone operations on 1 April 2026, with Macquarie managing select former projects.

Ownership category

akta.pro rank

Product category

Offshore Wind Development

NAICS

Wind Electric Power Generation (221115)

akta.pro primary industry

Offshore Wind Project Development & Leasing (EUAMACAB)

akta.pro secondary industries

Wind Farm Development & Permitting (Greenfield/Brownfield) (EUACAFAE), Offshore Wind Power Generation (Fixed-Bottom) (EUACAFAB)

Keywords

• Offshore wind development
• Wind farm development
• Renewable energy projects
• Clean energy infrastructure
• Offshore wind farms

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Technology or R&D, Supply Chain

Core offering

Corio Generation is a specialist offshore wind project developer that identifies, develops, consents, and progresses large-scale offshore wind farm projects toward construction and operation. The company co-developed projects such as the 1.5GW Outer Dowsing offshore wind farm in the UK North Sea with TotalEnergies and Gulf Development, and a 450MW project in Ireland via subsidiary FST. Its activities span project origination, regulatory consenting, and structuring of co-investment and PPA arrangements.

Product overview

Corio Generation was a Macquarie Group-backed offshore wind wind development company that developed offshore wind farm projects. The company operated as a standalone business until April 1, 2026, when it ceased operations. Key projects included the Outer Dowsing offshore wind farm (a 1.5GW project developed with TotalEnergies and Gulf Development) and the Sceirde Rocks offshore wind farm (a 450MW project in Ireland). Macquarie Group continues to manage a number of Corio's former projects.

Differentiator

Problem solved

Functional benefit

Products and services

• Outer Dowsing Offshore Wind Farm A 1.5GW offshore wind farm located 54km from the Lincolnshire coast in the southern North Sea, co-developed with TotalEnergies and Gulf Development, with up to 100 turbines and projected to power over 1.6 million UK households annually.
• Sceirde Rocks Offshore Wind Farm A 450MW offshore wind farm project comprising 30 turbines planned off the coasts of Counties Clare and Galway, Ireland, developed through subsidiary Fuinneamh Sceirde Teoranta.

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered flagship, core and minor.

• TotalEnergiesflagshipStrategic or Co-development Partner · 11 February 2026TotalEnergies partnered with Corio Generation and Gulf Development to co-develop the Outer Dowsing offshore wind farm in the UK North Sea. The project received UK Government consent and has a capacity of 1.5GW with up to 100 turbines. TotalEnergies serves as a co-developer alongside Corio and Gulf Development.
• Gulf DevelopmentcoreStrategic or Co-development Partner · 11 February 2026Gulf Development partnered with Corio Generation and TotalEnergies to co-develop the Outer Dowsing offshore wind farm, a 1.5GW project in the UK North Sea, approved by the UK Government. Gulf Development participates as a co-developer in the joint venture.
• Fuinneamh Sceirde Teoranta (FST)minorStrategic or Co-development Partner · 11 February 2026FST was a Corio Generation subsidiary developing the Sceirde Rocks offshore wind farm off the coasts of Counties Clare and Galway, Ireland — a €1.4 billion, 450MW project with 30 turbines. Following Corio's corporate restructuring decision to focus on a smaller global portfolio, FST withdrew the planning application, forfeiting a €35.4 million performance security bond.

Scale indicators5 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• Ørsted: Global leader in offshore wind project development and operator. Closest direct peer to Corio — same product category (offshore wind farm development), same target customers (governments, utilities), same project-development business model. Corio's CEO Samuel Leupold previously led wind operations at Ørsted's predecessor Dong Energy.
• Equinor: Major European offshore wind developer with a global development pipeline including Hywind floating wind. Directly comparable to Corio as an energy-major-backed offshore wind project developer operating in the UK and European markets.
• SSE Renewables: UK-focused renewable energy developer with a significant offshore wind project portfolio (Dogger Bank, Seagreen). Comparable to Corio as a UK offshore wind developer partnering with energy majors on large-scale projects.
• Mainstream Renewable Power: Independent renewable energy developer with offshore wind projects in the UK and globally, backed by private equity (Aker Horizons). Comparable to Corio as a PE-backed specialist offshore wind project developer.
• Copenhagen Infrastructure Partners (CIP): Danish fund manager developing large-scale offshore wind projects through its funds (e.g., Copenhagen Offshore Partners). Comparable to Corio as a private-capital-backed offshore wind project developer with global pipeline ambitions.

Broad incumbents

• RWE Renewables: One of the world's largest offshore wind developers with projects across Europe. Comparable to Corio in offshore wind project development, though operating as part of RWE's broader conventional and renewable energy portfolio.
• Iberdrola (through Avangrid Renewables): Global utility with substantial offshore wind development pipeline including East Anglia projects in the UK and Vineyard Wind in the US. Comparable to Corio in offshore wind project development, though within a diversified utility portfolio.
• Vattenfall: Swedish state-owned utility with significant European offshore wind development activities (e.g., Norfolk projects in the UK). Comparable to Corio as a European offshore wind project developer with utility backing.
• EDF Renewables: French energy major with offshore wind development activities including the Fécamp, Saint-Nazaire, and Courseulles-sur-Mer projects. Comparable to Corio as a European offshore wind project developer with major utility backing.
• Shell (New Energies / Offshore Wind): Energy major with growing offshore wind portfolio including Hollandse Kust Zuid and projects with ScottishPower. Comparable to Corio as a co-development partner on large-scale offshore wind farms, though operating within a diversified oil & gas major.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Corio Generation