Skyborn Secures Over €3 Billion for Construction of Germany's Largest Offshore Wind Farm
Skyborn Renewables has secured over €3 billion in funding to construct the Gennaker offshore wind farm, a 976.5MW project located off the coast of Germany’s Baltic Sea. The financing includes €2.1 billion from a consortium of commercial lenders and the European Investment Bank (EIB), with Stadtwerke München acquiring a strategic equity stake by purchasing a 25% share in the project. The wind farm, expected to generate approximately 3.8 terawatt-hours annually using 63 turbines, is set to power around one million households once operational at the end of 2028. Skyborn has finalized key supply and installation agreements with partners such as Siemens Gamesa Renewable Energy and secured long-term power purchase agreements (PPAs) for a total of 700MW from Amazon and Uniper. With all major project components now in place, including regulatory approvals and construction permits obtained earlier this year, Skyborn is preparing to move forward into the execution phase. CEO Patrick Lammers emphasized that the financial close reflects strong collaboration among stakeholders and marks a significant milestone for Germany’s renewable energy transition.
Topics: construction phase offshore wind farm project financing renewable energy