Business Daily Media

Men's Weekly

.

Skyborn enters U.S. offshore joint venture

  • Partnership with Ørsted across two U.S. offshore wind projects
  • Interest in 704 MW Revolution Wind and 132 MW South Fork Wind projects added to portfolio
HAMBURG, GERMANY - EQS Newswire - 1 October 2024 - Skyborn Renewables (Skyborn), a Global Infrastructure Partners (GIP) portfolio company, has successfully entered into an advanced U.S.

offshore wind joint venture by completing the acquisition of a 50% stake in the Revolution Wind and South Fork Wind projects from U.S. utility Eversource Energy (Eversource). Skyborn will manage the ownership of 50% in each of Revolution Wind and South Fork Wind projects. Ørsted holds the remaining 50% stake in both projects. South Fork is the first operating utility scale offshore wind project in the U.S. and Revolution is one of the first fully permitted projects that has begun construction.

"Partnering on the Revolution Wind and South Fork Wind projects marks a significant step in expanding Skyborn's presence in the U.S. offshore wind market. Moreover, this joint venture with Ørsted perfectly exemplifies our successful partnership model. This transaction offers strong value potential for our shareholders and partners through a well-structured approach that carefully mitigates key risks. Ørsted is a well-established and credible global leader in offshore wind, we are proud to partner with them and look forward to the collaboration," said Patrick Lammers, CEO of Skyborn.

"We're excited for our new partnership with Global Infrastructure Partners and Skyborn on South Fork Wind and Revolution Wind, two projects that are historic as well as central to America's energy priorities," said David Hardy, Group EVP and CEO Americas at Ørsted. "GIP is a trusted and longstanding global Ørsted partner and brings world-class experience to the U.S. offshore wind industry. We're pleased to work alongside as investors and partners with them and the experts from Skyborn in building and delivering domestic and clean energy to the Northeast."

Revolution Wind is a 704 MW offshore wind farm that will interconnect in Rhode Island and serve that state as well as Connecticut. The project is under construction and estimated to be operational in 2026. It is contracted under 20-year PPAs with Connecticut Light & Power (Eversource), United Illuminating (Avangrid) and Rhode Island Energy (PPL) and is expected to play a pivotal role in helping Rhode Island and Connecticut meet their clean energy goals.

South Fork Wind is a 132 MW offshore wind farm located off the coast of Montauk Point, New York. The project began delivering power in 2024. South Fork Wind project is fully contracted under a 20-year PPA with Long Island Power Authority.

JPMorgan Securities LLC and Greenhill, a Mizuho affiliate, are serving as financial advisors and Vinson & Elkins is serving as legal advisor to GIP.


Hashtag: #Skyborn

The issuer is solely responsible for the content of this announcement.

About Skyborn Renewables

Skyborn is an accomplished offshore wind developer and operator with more than 20 years' experience, headquartered in Germany. Our capabilities cover the entire offshore wind value chain, including greenfield development, engineering and design, procurement, financing, commercialization / corporate power purchase agreements, construction management, as well as operations and asset management. Skyborn is a portfolio company of Global Infrastructure Partners (GIP), a world-leading independent global infrastructure investor with headquarters in New York, USA.
For more information, visit

News from Asia

FGA Trust Showcases Hong Kong’s Institutional Strength at 2025 Inclusion Conference on the Bund

HONG KONG SAR - Media OutReach Newswire - 12 September 2025 - FGA Trust, a licensed trustee in Hong Kong, participated in the 2025 Inclusion Conference on the Bund by the invitation of InvestHK, a...

Appier Drives GenAI-Powered Creatives Transformation with AdCreative.ai, Empowering Hong Kong Brands to Accelerate into the Agentic AI Marketing Era

HONG KONG SAR - Media OutReach Newswire - 12 September 2025 - Appier (TSE: 4180), an AI-native SaaS company specializing in AdTech and MarTech solutions, today hosted the GenAI for Marketing Asia ...

Uni-Bio Science Group and Kexing Biopharm Forge Strategic Partnership to Accelerate Global Expansion of Osteoporosis Treatment Bogutai®

Zhangqiu District, Jinan City, Shandong Province – September 2025HONG KONG SAR - EQS Newswire – 12 September 2025 - Uni-Bio Science Group ("the Group") is pleased to announce the signing of a strat...

10th Belt & Road Summit celebrates decade of business, investment and co-operation achievements

HONG KONG SAR - Media OutReach Newswire - 12 September 2025 - The 10th edition of the Belt and Road Summit in Hong Kong (September 10-11) gathered about 6 200 high-profile participants from govern...

Digital Entertainment Leadership Forum 2025 Kicks Off Today

AI-Driven Innovation Unlocks the Missing Piece in Digital EntertainmentHONG KONG SAR - Media OutReach Newswire - 12 September 2025 - The Digital Entertainment Leadership Forum 2025 (DELF 2025), Cy...

COOFANDY, EKOUAER, and Zeagoo Announce Participation in Oktoberfest 2025 with Joint Pop-Up Event at Substanz Club

MUNICH, GERMANY - Media OutReach Newswire - 13 September 2025 - COOFANDY, EKOUAER, and Zeagoo are excited to announce their participation in the 2025 Munich Oktoberfest, alongside a special off...

Coastline Wealth Management’s Garrett Taylor Named a Top New York Best-in-State Wealth Advisor

LONG ISLAND, US - Media OutReach Newswire - 13 September 2025 - Garrett Taylor, CRPC®, Founder and Managing Partner of Coastline Wealth Management, has earned a place on Forbes' 2025 Best-in-State...

China Telecom Global Showcases at the 10th Belt and Road Summit, Paving the Way for a Smarter Silk Road Future

HONG KONG SAR - Media OutReach Newswire - 13 September 2025 - The 10th Belt and Road Summit was successfully held at the Hong Kong Convention and Exhibition Centre from September 10 to 11, 2025...

IVD Medical Holding Limited and ETHK Group Establish Joint Venture, On-Chain Financial Strategy Upgraded On September 14

NEW YORK, US - Media OutReach Newswire - 14 September 2025 - IVD Medical Holding Limited (01931.HK) released an announcement stating its collaboration with ETHK Group, a global on-chain financial ...

IVD Medical Holding Limited Releases "ETHK" Ecosystem Vision: Technology for the Public, Chain for the Way On September 14

NEW YORK, US - Media OutReach Newswire - 14 September 2025 - IVD Medical Holding Limited (01931.HK) officially announced its name change. Its English name was changed to "ETHK Labs Inc...

Manny Shah: Is your business disappearing from Google? You’re not alone

Small business owners across Australia are panicking as their websites vanish from Google’s front pages overnight. According to Manny Shah, cofounde...

MR Roads named Queensland Finalist in the 2025 Telstra Best of Business Awards

MR Roads, co-founded by Daniel Mikus and James Rolph, has been announced as a Queensland finalist in the prestigious 2025 Telstra Best of Business...

AWS research shows strong AI adoption momentum in Australia, with startups outpacing large enterprises in innovation

Amazon Web Services (AWS), an Amazon.com company, released new research revealing that while artificial intelligence (AI) adoption continues to acce...

Changing the World One Bite At a Time: IKU Turns 40

One of Australia’s first plant-based, chef-led eateries and now ready meal provider IKU is celebrating its 40 year anniversary with the business e...

Three generations marking 45 years in hot-air balloons

Australia’s leading hot-air balloon company is celebrating 45 years in the sky and its 700,000th passenger, driven by the passion of father-son du...

Workplace DMs, Reinvented: Deputy Messaging, Purpose-Built For Shift-Based Teams

Deputy, the global people platform for shift-based businesses, has launched Deputy Messaging, a fully integrated, real-time communication tool designe...

Sell by LayBy