Skyborn Renewables and Stadtwerke München have agreed to form a strategic partnership for the development and construction of the Gennaker offshore wind project in the German Baltic Sea. Under the agreement, Stadtwerke München will acquire a 25% equity stake in the project.
The transaction remains subject to customary approvals and the successful completion of construction financing, which is expected to close in the third quarter of 2026. Gennaker has a planned capacity of up to 976.5 MW and is progressing towards the construction phase.
