Mubadala invests in Skyborn Renewables, the world’s largest private offshore wind energy developer

Mubadala Investment Company has acquired a stake in Skyborn Renewables, alongside Global Infrastructure Partners (GIP). The acquisition of a 100 per cent interest in Skyborn Renewables provides GIP and co-investors, including Mubadala, access to the largest private offshore wind developer globally.

Skyborn Renewables, headquartered in Bremen in Germany, 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, as reported by state news agency, WAM

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 per cent interest in NY Bight Project called Bluepoint Wind, a 1.6GW offshore project in the US that will provide investors with immediate access to the growing US offshore wind market, WAM reported.

Offshore wind is expected to be one of the fastest growing renewable energy sectors over the next 15 years, with the current 27GW installed capacity set to grow to 290GW by 2035.

Khaled Abdulla Al Qubaisi, CEO 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. Wind energy is an important component of the transition to clean, renewable power and as a responsible investor, we at Mubadala are proud to be a part of a consortium that is playing a leading role in addressing the global challenges of the climate crisis and energy security.”

The Skyborn Renewables and Bluepoint Wind investments are part of Mubadala’s rapidly growing clean and sustainable energy portfolio.

In April this year, Mubadala was part of a BlackRock Real Assets-led consortium which agreed to invest $525m into the renewable energy arm of India’s Tata Power.