Saudi Arabia’s Public Investment Fund (PIF) has acquired up to 9.5 percent of Skyborn Renewables, an offshore wind developer and operator, alongside Global Infrastructure Partners (GIP).
The Skyborn platform includes interests in operating and under-construction projects in Germany, France and Taiwan as well as a pipeline of more than 30 gross gigawatts of highly diversified offshore wind projects in various stages of development. The company has more than 7 gigawatts of capacity developed to date and a presence in more than 15 European and APAC markets.
PIF said the investment will allow it to participate in the acceleration of energy transition and clean energy on an international scale.
“This investment opportunity enhances our objectives to increase our portfolio of investments in the low-carbon sector, which now includes solar, power generation, electric vehicles and offshore wind energy,” said Turqi A. Alnowaiser, deputy governor and head of the inte
