Skyborn Renewables has reached financial close on its 976.5 MW Gennaker offshore wind project in the German Baltic Sea (Skyborn Renewables press release, 11/09/2026). With this, the project’s debt and equity financing, power purchase agreements (PPAs), strategic partnerships, and main supply and installation contracts are now in effect, allowing the over EUR3bn Gennaker project to enter its construction phase.
Developed in partnership with Stadtwerke München (SWM), which holds a 25% stake, the project comprises 63 turbines and it is expected to generate around 3.8 TWh/year and supply approximately 1 million households once operational. The project is located 15 km north of the Fischland-Darß-Zingst peninsula, and it’s expected to reach commercial operations are expected by the end of 2028, with Skyborn managing construction and long-term operations.
The project obtained its construction and operating permit in 2025 and secured its main turbine, foundation and cable contracts. In 2026, Skyborn signed long-term power purchase agreements with Amazon covering 600 MW and Uniper covering 100 MW, securing contracted revenues for a substantial share of the project’s future output.
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