Stadtwerke München acquires 25% stake in 976MW Gennaker offshore wind project
The strategic partnership will support the development and construction
of the 976.5MW Gennaker
offshore wind project in
the German Baltic Sea.
Under the agreement, SWM will acquire a 25% equity stake in the project,
subject to customary approvals and the successful completion of construction
financing, which is expected during the third quarter of 2026.
The deal marks a major milestone for Gennaker as the project advances towards
construction. Located around 15 kilometres north of the Fischland-Darß-Zingst
peninsula, the wind farm is expected to become the largest offshore wind
project in the German Baltic Sea.
Once operational, Gennaker is expected to generate enough renewable electricity
to power around one million households.
The partnership follows the recent signing of a long-term corporate power
purchase agreement with Amazon, which Skyborn said further supports the
project's commercial viability and progression towards construction.
SWM chief executive Dr Florian Bieberbach said the investment strengthens
the utility's renewable energy portfolio and supports its ambitions to
expand clean electricity in response to growing demand from electrification.
For more information about offshore wind
farm projects across the globe, click
here.