Abu Dhabi-based state-owned investor Mubadala Investment Company has acquired a stake in Skyborn Renewables, according to the Emirates state media agency WAM.
Skyborn is the German wind developer formerly known as Wpd offshore, which was acquired by Global Infrastructure Partners (GIP) in September.
Mubadala's investment - as yet unspecified - also sees it take a share in GIP’s 50% interest in the 1.6GW Bluepoint Wind project in the New York Bight, which is in early stage development by GIP and its Ocean Winds partner - a 50:50 joint venture between EDP Renewables and ENGIE - off the New Jersey and New York coasts.
Skyborn is the largest private offshore wind developer globally and has an established presence in Europe and Asia Pacific. Headquartered in Bremen, Germany, it 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 offshore wind projects in various stages of development.
The Skyborn and Bluepoint Wind investments are part of Mubadala’s rapidly growing clean and sustainable energy portfolio. In April, Mubadala was part of the BlackRock Real Assets-led consortium that agreed to invest $525 million into the renewable energy arm of India’s Tata Power.