Skyborn Renewables has reached financial close on the 976.5 MW Gennaker offshore wind farm in Germany's Baltic Sea after securing more than $3.47 million (€3 billion) in financing, moving the project from development into construction.
The financing is being provided by a consortium of 16 commercial lenders and the European Investment Bank, alongside Skyborn's strategic equity partner Stadtwerke München GmbH.
Gennaker, described by Skyborn as the largest offshore wind farm in the German Baltic Sea, will comprise 63 turbines and is expected to generate around 3.8 TWh of electricity annually, equivalent to the annual consumption of more than one million German households.
The wind farm is located about 15 kilometers north of the Fischland-Darß-Zingst peninsula in Mecklenburg-Western Pomerania.
Construction is underway, with commercial operations targeted for late 2028. Skyborn secured the construction permit for the project in December 2025.
Gennaker will also establish a long-term service base in Rostock-Warnemünde to support the project during operations.
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