Mubadala Acquires Stake in German Skyborn Renewables

Abu Dhabi-based Mubadala Investment Company has invested in Skyborn Renewables, as part of a Global Infrastructure Partners (GIP) – led consortium.

Skyborn Renewables

Skyborn Renewables is the former offshore wind unit of wpd offshore, which Global Infrastructure Partners (GIP) bought earlier this year with the transaction being completed on 15 September.

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Headquartered in Bremen, Germany, Skyborn Renewables has an offshore wind portfolio with a capacity of more than 7 GW with a further five operating and under-construction projects in Germany, France, and Taiwan.

The group currently has a 30 GW pipeline of diversified offshore wind projects at various stages of development.

Mubadala’s investment also includes a stake in GIP’s 50 per cent interest in NY Bight project called Bluepoint Wind, a 1.6 GW offshore wind farm in the US that will provide investors with immediate access to the growing US offshore wind market.

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Bluepoint Wind is a partnership between GIP and Ocean Winds, who won the lease area in Central Bight for USD 765 million this February in what was the biggest offshore wind auction ever organised in the US.

The project site is located 38 nautical miles off the coast of New York and 53 nautical miles off the coast of New Jersey and will be able to power up to 900,000 homes.

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NOTE: The original article has been amended.