In 2022, Mubadala joined forces with Global Infrastructure Partners (GIP) to acquire a 100%stake in Skyborn Renewables, the largest private offshore wind developer in the world. Skyborn Renewables has a proven track record of accelerated project development and a strong presence in Europe and Asia Pacific. As part of the investment, Mubadala also acquired a stake in GIP's 50%interest in New York Bight, Bluepoint Wind, an innovative 1.6 GW offshore wind project located in the United States.
Skyborn Renewables has a track record of delivering more than 7 GW of energy capacity in offshore wind to date. The group currently has a 30 GW pipeline of highly diversified offshore wind projects in various stages of development.
Offshore wind is predicted to be one of the fastest growing renewable energy sectors over the next 15 years, with an expected installed capacity growth from 27 GW to 290 GW by 2035. This projected growth in the offshore wind market is expected to require annual investments of USD 50 billion.
