UAE Business: Mubadala buys stake in giant offshore wind energy group – Gulf Digital News

UAE Business: Mubadala buys stake in giant offshore wind energy group – Gulf Digital News

Mubadala Investment Company, the Abu Dhabi-based sovereign investor managing a global portfolio of assets valued at $284 billion, 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 per cent 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% interest in NY Bight Project called Bluepoint Wind, an innovative 1.6GW offshore project in the U.S. that will provide investors with immediate access to the growing US offshore wind market.

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