GERMANY —A €2.1 billion non-recourse debt facility financed by 16 commercial banks and the European Investment Bank has cleared the final financial hurdle for Germany's largest Baltic offshore wind development. Total capital commitment for the project exceeds €3 billion, paving the way for immediate offshore construction activities. Located 15 kilometers off the Fischland-Darß-Zingst peninsula, the installation will deliver up to 976.5 megawatts of generation capacity upon its planned completion in 2028.
Skyborn Renewables is a international offshore wind developer specializing in full-lifecycle project design, financing, delivery, and asset management. Stadtwerke München operates as the municipal utility entity for Munich, managing regional public transport, infrastructure, and renewable power supply networks.
Commercial viability has been anchored by long-term power purchase agreements, including major off-take deals with corporate and utility buyers Amazon and Uniper for a combined 700 megawatts of capacity. Key supply chain contracts have already been finalized across turbine supply, foundation fabrication, and subsea cable installation. Stadtwerke München holds a 25 percent equity stake in the venture, supporting regional decarbonization targets while Skyborn leads project delivery.
The investment significantly boosts European offshore wind deployment goals and reinforces domestic supply chains across northern Germany. Power generated will serve approximately one million households, helping shield commercial consumers from regional price volatility while accelerating national decarbonization timelines. The successful syndication of commercial and multilateral debt highlights continued institutional confidence in large-scale Baltic Sea energy infrastructure assets.
