[SMM Flash News] Skyborn Reaches Financial Close on €3 Billion Gennaker Offshore Wind Project

Published: Sep 14, 2026 00:06

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Skyborn Renewables has reached financial close on the 976.5-MW Gennaker offshore wind farm, enabling Germany’s largest Baltic Sea wind project to enter the execution phase. The project will mobilise more than €3 billion in investment, including €2.1 billion in non-recourse debt from 16 commercial lenders and the European Investment Bank. Developed with Stadtwerke München, which holds a 25% stake, Gennaker will comprise 63 Siemens Gamesa 15-MW turbines. Amazon and Uniper have signed long-term power purchase agreements covering 600 MW and 100 MW, respectively. Commercial operations are targeted by end-2028, with the project expected to supply electricity equivalent to the consumption of around one million German households.

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