Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) has announced the acquisition of up to 9.5% of Skyborn Renewables, alongside Global Infrastructure Partners. Skyborn is an offshore wind developer and operator that has projects in Germany, France, and Taiwan. Through this acquisition, PIF is involved in the acceleration of energy transition and clean energy at an international scale. PIF has also been investing in the low carbon sector in an effort to develop 70% of the kingdom’s renewable energy by 2030. It comes in light of the fund investing in other renewable energy companies such as ACWA and Sudair and Al Shuaibah Solar Energy Projects.
- Saudi’s PIF Acquires Up To 9.5% Stake In Skyborn Renewables