(Bloomberg) -- Macquarie Group Ltd is considering a sale of its offshore wind development arm Corio Generation Ltd. as the bank heads toward multibillion-dollar investment decisions on its green power portfolio.
The Australian financial giant has appointed its in-house advisory team at Macquarie Capital to explore options for Corio that could include a sale of some or all of the company, according to a person familiar with the matter who asked not to be named because the matter isn’t public.
Macquarie launched Corio in 2022 to expand on the work that it was already doing in the offshore wind sector. The company has a project pipeline of 30 gigawatts spread across the world, including the US, UK and in Asia, according to its website.
Corio doesn’t currently have any completed or operating wind farms. Its portfolio is all in development stage and will require significant investment to realize.
Reuters earlier reported on Macquarie’s potential sale of the business.
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