Skyborn closes €3bn Gennaker financing as offshore wind milestones pile up

Skyborn's €3bn financial close on Gennaker is the headline figure of the day. The 63-turbine array is scheduled to enter full operations in December 2028, per Renews.biz. At that scale, the close ranks among the larger single-project financings in European offshore wind this year.

Construction progress at Dieppe-Le Tréport adds a second datapoint. Ocean Winds confirmed 31 turbines are now in place, marking the halfway point at the French offshore zone. Separately, RWE and Masdar formalised a partnership via a memorandum of understanding targeting German offshore auctions in 2027, signalling continued appetite for the German zone despite ongoing grid-connection timelines.

In the Baltics, Latvenergo is folding solar and battery storage acquisitions into a wind-led expansion strategy, according to pv magazine. The move reflects a pattern across smaller European zones: utilities bundling generation technologies to manage capture-price risk and strengthen grid resilience ahead of the Baltic synchronisation with the Continental European grid.