Amazon and BlackRock-backed Skyborn Renewables have signed a 600 MW power purchase agreement for the Gennaker offshore wind farm in the German Baltic Sea. This is the largest single PPA ever signed in Germany and will support construction of what is set to become the country's biggest Baltic Sea wind farm. The project will consist of 63 turbines with a total capacity of 976.5 MW, enough to power over one million German homes annually. Construction is expected to start after financial close in summer 2026, with operations targeted by the end of 2028. The deal helps Amazon expand its German clean energy portfolio to over 1.3 GW and supports Germany's goal of 30 GW of installed offshore wind by 2030. Amazon was one of the top corporate clean energy buyers globally in 2025, contracting over 10 GW. The agreement shows how large corporate offtake can de-risk major offshore wind projects and move them toward financial close. It also highlights the growing role of infrastructure investors like BlackRock in backing utility-scale renewables.
