The European Investment Bank (EIB) has approved financing of up to EUR 700 million for the Gennaker offshore wind farm in Germany, developed by Skyborn Renewables.
The EIB reports the project’s total cost is approximately EUR 3.1 billion.
The Gennaker offshore wind farm will be constructed in German territorial waters within the 12-nautical-mile zone, near the coast of the Fischland-Darß-Zingst peninsula. It is the first offshore wind farm connected under the “territorial waters regulation,” with operators entitled to a grid connection approved by the Federal Immission Control Act (BImSchG).
Skyborn was granted a permit through BImSchG in 2019 and has filed two applications for project detail changes as wind turbine technology progressed. Initially approved in 2019 for 103 turbines using Siemens Gamesa’s 8.4 MW turbines, Gennaker was re-approved in 2024 to use 9 MW turbines. Skyborn now plans for 63 Siemens Gamesa turbines with a maximum capacity of 15.5 MW each, resulting in a total output of 976.5 MW.
The project received full approval from the state of Mecklenburg-Western Pomerania in December last year.
Installation of the wind turbines is set to begin in late summer 2027. At the start of this year, Skyborn Renewables and German transmission system operator 50Hertz, responsible for the grid connection (OST-6-1), signed an agreement facilitating the project’s commissioning by mid-2028. The HSI Joint Venture, comprising HSM Offshore Energy, Smulders, and Iv, is building the two offshore platforms for the grid connection, with fabrication nearing completion.
Skyborn Renewables signed preferred supplier agreements for Gennaker foundations and inter-array cables in September last year. The suppliers have begun signing firm contracts for the wind farm.
The developer selected EEW Special Pipe Construction (EEW SPC) for monopiles, Dajin Heavy Industry for transition pieces, Seaway7 for foundation installation, and a consortium of TKF and Boskalis for the supply and installation of inter-array cables.
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