• 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.