Skyborn Renewables has achieved financial close for the Gennaker offshore wind farm located in Germany’s Baltic Sea. The project has an installed capacity of up to 976.5 MW. The project has secured a €2.1 billion non-recourse financing package from a consortium of 16 commercial lenders and the European Investment Bank, with the total investment exceeding €3 billion. The project is targeted for commercial operations by the end of 2028.
Furthermore, the project will supply clean electricity to around 1 million households. Major supply and installation contracts for the project have been secured with companies including Siemens Gamesa, EEW, Seaway 7, Boskalis and Fred. Olsen Windcarrier. In 2026, the project also secured power purchase agreements with Amazon for 600 MW and Uniper for 100 MW. Additionally, Stadtwerke München has acquired a 25 per cent stake in the project.
In July 2026, the Swedish Government granted consent for the Fyrskeppet offshore wind farm located in the southern Bothnian Sea, developed by Skyborn Renewables. The project is expected to have an installed capacity of approximately 1,400 MW and generate around 5 TWh of renewable electricity annually, equivalent to the electricity consumption of approximately one million households.
