The Abu Dhabi sovereign wealth fund Mudabala Investment Company (UAE), as part of a Global Infrastructure Partners-led consortium, has acquired a stake in the energy company Skyborn Renewables and its portfolio of more than 7 GW of offshore wind (with five operating and under-construction projects in Germany, France and Taiwan). The company also has more than 30 GW of diversified offshore wind projects in various stages of development.
Skyborn Renewables is the former offshore wind unit of Germany’s WPD offshore, which Global Infrastructure Partners fully acquired earlier in 2022 (with the transaction being completed on 15 September) and relaunched as Skyborn Renewables. Mubadala’s investment also includes a stake in GIP’s 50% interest in the 1.6 GW Bluepoint Wind offshore wind project, located in the US state of New York and which is currently under development.
Furthermore, following this announcement, Skyborn Renewables announced it plans to develop an up to 3.6 GW offshore wind project in Finland's Bothnian Bay, in an exclusive economic zone off Kokkola, Jakobstad and Uusikaarlepyy (central Finland). The Reimar project, spread over 40,500 hectares, will comprise up to 120 wind turbines with a power of up to 30 MW. The project will also assess the possibility of hydrogen production.
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