Public Investment Fund and Global Infrastructure Partners acquired 9.5% of Skyborn Renewables

Saudi Arabia’s Public Investment Fund (PIF) and Global Infrastructure Partners (GIP), a global, independent infrastructure investment fund, have acquired up to 9.5% of offshore wind developer and operator Skyborn Renewables.

PIF’s investment in the energy developer, which has over 20 years of development experience, is consistent with the fund’s efforts to create global economic partnerships and opportunities. PIF said in a statement on Monday that the investment will also allow the sovereign wealth fund to play a key role in energy transition and clean energy on a global scale by investing in a geographically diverse offshore wind energy platform.