Skyborn Renewables and Stadtwerke München to partner in offshore wind project Gennaker

Skyborn Renewables (Skyborn) and Stadtwerke München (SWM) announced that they 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 terms of the agreement, Stadtwerke München will take a 25% ownership stake in the Gennaker project, representing an important step forward as the offshore wind farm moves closer to the construction phase. The transaction is subject to standard regulatory and contractual approvals, as well as the successful completion of construction financing, which is anticipated in Q3 of 2026. With a planned installed capacity of up to 976.5 MW, Gennaker is poised to become the largest offshore wind project in the German Baltic Sea, producing enough clean electricity each year to supply around one million households.

The partnership helps advance Gennaker toward the construction stage, creating a strong platform for sustained value generation for investors, local communities, and Germany’s energy sector. This progress is further supported by a long-term corporate power purchase agreement (PPA) with Amazon, providing additional revenue certainty for the project.