Mubadala buys into GIP’s offshore wind developer Skyborn

Abu Dhabi state investor Mubadala has acquired a stake in Skyborn Renewables, a German offshore wind developer of Global Infrastructure Partners (GIP).

Skyborn, formerly known as Wpd Offshore, has an offshore wind portfolio with a capacity of more than 7 GW with five operating and under-construction projects in Germany, France and Taiwan as well as a 30 GW pipeline of diversified offshore wind projects in various stages of development.

As part of the deal, Mubadala will also buy into GIP’s 50% interest in a 1.6 GW Bluepoint Wind project, which is located near the coast of New Jersey and New York.

GIP acquired the Bremen-based developer from Wpd for an undisclosed sum earlier this year. The unit was rebranded as Skyborn Renewables and is led by Achim Berge Olsen.

The size of Mubadala’s shareholding and the amount of the investment have not been disclosed.