EIB Greenlights EUR 700 Million for Gennaker Offshore Wind Farm

The European Investment Bank (EIB) has approved financing of up to EUR 700 million for the Gennaker offshore wind farm in Germany, developed by Skyborn Renewables.

According to information released by EIB, the project’s total cost is around EUR 3.1 billion.

The Gennaker offshore wind farm will be built in German territorial waters, within the 12-nautical-mile zone, off the coast of the Fischland-Darß-Zingst peninsula, and is the first offshore wind farm to be connected under the “territorial waters regulation”, with operators being entitled to a grid connection under approval by the Federal Immission Control Act (BImSchG).

Skyborn was granted a permit through BImSchG in 2019, but has since filed two applications for project detail changes as the wind turbine technology progressed. In 2019, the developer was approved for a 103-turbine project featuring Siemens Gamesa’s 8.4 MW turbines, with Gennaker re-approved in 2024 to use 9 MW wind turbines. Skyborn has then applied for further changes to the project as it is described now, comprising 63 Siemens Gamesa wind turbines with a maximum capacity of 15.5 MW, resulting in a total Gennaker output of a maximum 976.5 MW.

The project received full approval from the state of Mecklenburg-Western Pomerania in December last year. 

The installation of the wind turbines is scheduled to begin in late summer 2027.

At the beginning of this year, Skyborn Renewables and the German transmission system operator (TSO) 50Hertz, which is leading the development of the grid connection (OST-6-1) for the Gennaker offshore wind farm, signed an agreement that clears the way for the commissioning of the entire project by mid‑2028. The HSI Joint Venture, comprising HSM Offshore Energy, Smulders, and Iv, is building the two offshore platforms for the grid connection, whose fabrication is nearing completion.

Skyborn Renewables signed preferred supplier agreements (PSAs) for Gennaker foundations, inter-array cables and their installation in September last year. The suppliers have since then started signing firm contracts for the offshore wind farm.

The developer selected EEW Special Pipe Construction (EEW SPC) for the monopiles, Dajin Heavy Industry for the transition pieces, Seaway7 for the foundation installation, and a consortium of TKF and Boskalis for the supply and installation of the inter-array cables.

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