According to the company, Corio, a portfolio company of the Macquarie Group, has been exploring opportunities in the Philippines since before its launch as a new brand in offshore wind in April 2022 .
That same month, the World Bank and the Philippines’ Department of Energy (DOE) launched The Philippines Offshore Wind Roadmap , according to which the country has the potential to install as much as 21 GW of offshore wind capacity by 2040 with the right governmental and policy support.
A year later, in April 2023, the Philippines’ Department of Energy, said that it had allocated as many as 63 OSW SCs with a total potential capacity of 49.9 GW by that time.
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