Santander Corporate & Investment Banking is pleased to have advised Skyborn Renewables on the formation of a strategic partnership with Stadtwerke München GmbH for the development and construction of the Gennaker offshore wind project in the German Baltic Sea. Under the agreement, Stadtwerke München will acquire a 25% stake in Gennaker.

The formation of this partnership marks a key milestone for the Gennaker project, which, once operational, will generate up to 976.5 MW of renewable energy, enough to power approximately one million households.

The transaction once again highlights Santander’s position as a leading M&A advisor in offshore wind and large-scale renewable energy projects, as well as the strength of its Energy & Energy Transition advisory franchise.

Santander congratulates its client Skyborn Renewables on this milestone transaction and all parties involved.

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