Saudi Arabia’s Public Investment Fund (PIF) has taken an up to 9.5% stake in Germany-based offshore wind developer Skyborn Renewables, in an effort to boost its participation in the global energy transition.

Skyborn is the former offshore wind unit of German developer Wpd, which Global Infrastructure Partners (GIP) bought earlier this year, gaining access to a 30GW (gross) pipeline of wind at sea projects in various stages of development, as well as stakes in five plants in Germany, France and Taiwan that are already operating or under construction.