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Australia’s Macquarie to launch offshore wind energy business -Breaking

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© Reuters. FILE PHOTO – The main entrance of Macquarie Group Ltd’s Sydney headquarters, Australia, is decorated with the logo. REUTERS/David Gray

(Reuters] – Macquarie Group’s green investment unit, which is part of the Australian financial conglomerate Macquarie Group (OTC) announced on Thursday that they would start an offshore wind power business. Operation will begin in April.

Corio Generation will become part of Macquarie’s Green Investment Group. It will also have a global pipeline of projects of 15 gigawatts. This is one of the most important in the world.

GIG is a green energy company that Macquarie purchased from the British Government in 2017. It currently generates 35 gigawatts.

In the face of investor pressures to meet emissions targets, a number of businesses have made it a point to encourage clean and renewable energy.

Macquarie’s commodities trading arm is responsible for a large portion of its income. Last month, Macquarie posted record quarterly profits due to the strong commodity markets.

Jonathan Cole will lead Corio after more than 10 years as head of Iberdola’s offshore Wind business.

Corio, which will have its headquarters in the United Kingdom and offices in London and Edinburgh will operate in many European markets. Macquarie indicated that it will be looking into opportunities to move to the Americas.

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