Uniper signs 100 MW offshore wind PPA with Skyborn for Gennaker
- Uniper will purchase 100 MW from the Gennaker offshore wind project under a long-term PPA that starts after commercial operation and runs for an initial 10 years with an extension option.
- Gennaker is planned to reach up to 976.5 MW, making it the largest offshore wind farm in the German Baltic Sea and expected to generate enough electricity for about one million households annually.
- The transaction is Uniper’s first offshore wind PPA and is intended to expand its renewables and PPA business while diversifying its power portfolio.
- Uniper is planning around €8 billion of investments into the early 2030s to sharpen its portfolio around security of supply, industrial competitiveness, and more renewable generation.
Deal details
Uniper and Skyborn Renewables have signed a long‑term Power Purchase Agreement for electricity from the Gennaker offshore wind project. Under the agreement Uniper will purchase 100 MW of capacity. The contract is scheduled to commence after commercial operation and runs for an initial term of 10 years with an option to extend.
Strategic rationale
The PPA marks the buyer’s first offshore wind agreement and fits its strategy to expand renewables and grow its PPA business. The company says adding offshore wind complements its existing portfolio of flexible generation, gas storage, renewables and hydrogen, and contributes to security of supply and the transition to low‑carbon generation. It plans roughly €8 billion of investments into the early 2030s to focus on supply security, industrial competitiveness and increased renewable capacity.
Gennaker project
Gennaker is planned to deliver up to 976.5 MW and is set to become the largest offshore wind farm in the German Baltic Sea. Once operational it is expected to generate enough electricity for about one million households annually. Skyborn presents Gennaker as a blueprint project demonstrating its end‑to‑end capabilities from development and financing to construction and long‑term operations, and positions the project to contribute domestically produced, large‑scale electricity and long‑term economic value creation.
Source: Uniper