Picture for illustrative purposes only. ARCHIVE

Mubadala Investment Company, an Abu Dhabi-based sovereign investor with a $284 billion global portfolio, has acquired a stake in Skyborn Renewables, the world's largest private offshore wind developer, along with Global Infrastructure Partners (GIP). GIP and co-investors, including Mubadala, now have access to the world's largest private offshore wind developer, Skyborn Renewables, which has a long track record of development and an established presence in Europe and the Asia Pacific. Skyborn Renewables, based in Bremen, Germany, has an offshore wind track record of more than 7GW developed to date, as well as a portfolio of operating and under-construction projects in Germany, France, and Taiwan. The company currently has a pipeline of 30GW of highly diverse offshore wind projects in various stages of development. Mubadala's investment also includes a stake in GIP's 50% stake in the N.Y. Bight Project called Bluepoint Wind, an innovative 1.6GW offshore project in the United States that will provide investors with immediate access to the growing U.S. offshore wind market. Over the next 15 years, offshore wind is expected to be one of the fastest-growing renewable energy sectors, with the current 27GW installed capacity expected to increase to 290GW by 2035. The offshore wind market is expected to grow to $50 billion annually. Khaled Abdulla Al Qubaisi, Chief Executive Officer of Real Estate and Infrastructure Investments at Mubadala said, "Offshore wind is one of the most attractive and fastest growing segments within renewables, with the sector expected to grow 10-fold in the next decade. Wind energy is an important component of the transition to clean, renewable power and as a responsible investor, we at Mubadala are proud to be a part of a consortium that is playing a leading role in addressing the global challenges of the climate crisis and energy security." Mubadala's investments in Skyborn Renewables and Bluepoint Wind are part of the company's rapidly expanding clean and sustainable energy portfolio. Mubadala was a member of a consortium led by BlackRock Real Assets that agreed to invest $525 million in Tata Power's renewable energy arm in April of this year. Tata Power Renewable Energy, a key player in India's energy transition, intends to expand its current 4.9GW clean energy capacity to more than 20GW over the next five years. BKM/ Expat Media
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