UAE's Mubadala Investment Company has acquired a stake in Skyborn Renewables, the world’s largest private offshore wind developer, alongside Global Infrastructure Partners (GIP).
The acquisition of a 100 percent interest in Skyborn Renewables provides GIP and co-investors, including Mubadala, with access to the largest private offshore wind developer globally with a long track record of development and an established presence in Europe and Asia Pacific.
Headquartered in Bremen, Germany, Skyborn Renewables has an offshore wind track record of more than 7GW developed to date, and a portfolio of operating and under-construction projects in Germany, France, and Taiwan. The group currently has a 30GW pipeline of high diversified offshore wind projects in various stages of development.
The investment by Mubadala also includes the acquisition of a stake in GIP’s 50 percent interest in NY Bight Project called Bluepoint Wind, an innovative 1.6GW offshore project in the US that will provide investors with immediate access to the growing US offshore wind market, state news agency WAM reported.
Khaled Abdulla Al Qubaisi, Chief Executive Officer of Real Estate and Infrastructure Investments at Mubadala, said: “Offshore wind is one of the most attractive and fastest growing segments within renewables, with the sector expected to grow 10-fold in the next decade."
