Skyborn Renewables has signed a power purchase agreement with InCommodities Asset Management covering the Nordergründe offshore wind farm located off the coast of Lower Saxony in the German North Sea.

The deal marks InCommodities' first entry into offshore wind, extending a renewables asset management platform the Danish company has built on onshore wind and solar across Europe.

Terms of the Agreement

Under the agreement, InCommodities Asset Management will offtake the power and Guarantees of Origin generated by Nordergründe and provide balancing services for the asset. The arrangement consolidates power offtake, Guarantees of Origin, and balancing into a single contract, structured specifically around Nordergründe in close dialogue between the two parties. Skyborn described the deal as providing an important commercial foundation for the asset's continued long-term operation.

Christian Zaum, Chief Financial Officer of Skyborn Renewables, said the agreement reflects the growing importance of commercial frameworks for maturing offshore wind assets.

"As offshore wind assets mature, maximising long-term value increasingly depends not only on operational performance, but also on having the right commercial framework in place," Zaum said. "Skyborn has recently taken full ownership of Nordergründe, the project has been generating renewable electricity for almost a decade, and this agreement provides an important foundation for its continued success."

Andreas Juul Jensen, Chief Commercial Officer at InCommodities Asset Management, described the deal as a milestone for his organization.

"We are very proud to sign our first offshore wind deal with Skyborn Renewables as our partner. It covers power offtake, GoOs and balancing in one agreement, structured around Nordergründe in close dialogue with Skyborn Renewables. That is how we work with every asset owner, regardless of technology," Jensen said.

About the Nordergründe Wind Farm

Nordergründe comprises 18 Senvion 6.2M126 turbines with a combined installed capacity of 110.7 megawatts. The site sits approximately 13 kilometres off the coast of Lower Saxony in the German North Sea and has been operational since 2017. The wind farm generates enough renewable electricity to supply approximately 90,000 households annually and is operated by Skyborn Deutschland.

The project holds a notable place in the history of German offshore wind development. Nordergründe was the first German offshore wind project in which all major components were supplied and installed by local manufacturers, a distinction that continues to feature in how both Skyborn and the broader industry describe the asset.

Skyborn Renewables became the sole owner of Nordergründe in 2026 and has taken on responsibility for its long-term management and operation. The PPA with InCommodities represents the first major commercial agreement struck since Skyborn assumed full ownership of the farm.

InCommodities Expands Beyond Onshore Technology

InCommodities Asset Management is the dedicated European renewables asset management arm of InCommodities, which is headquartered in Aarhus, Denmark. The group has been active in renewables asset management since signing its first German portfolio in 2022 and has since expanded into markets including the Nordics. The company today manages a technology-diversified portfolio of 2,059 megawatts under contract in Germany.

The Nordergründe agreement represents a meaningful step in InCommodities' technology diversification strategy. Prior to this deal, the platform had been built exclusively around onshore wind and solar. The company describes its commercial model as centered on structuring Balancing Agreements, Fixed Price Agreements, and Guarantees of Origin offtake that it says make renewable energy projects bankable.

InCommodities Asset Management states it operates with an automated, AI-driven platform and makes board-level decisions within days. For both companies, the deal also deepens an existing commercial relationship. Skyborn noted that the agreement reflects not only a first offshore transaction for InCommodities but also the beginning of a longer working partnership between the two organizations on the Nordergründe asset going forward.

Skyborn's Broader Portfolio and Ownership

Skyborn Renewables is headquartered in Germany and describes itself as an offshore wind infrastructure platform with more than 25 years of experience. The company's activities span development, construction, ownership, and operation of offshore wind assets and are active across 10 countries in Europe, Asia-Pacific, and the Americas.

Skyborn currently has 1.4 gigawatts of offshore wind capacity in operation and 2.1 gigawatts under construction. Skyborn is a portfolio company of Global Infrastructure Partners, a New York-based infrastructure investor that is part of BlackRock. The Nordergründe PPA adds a commercially structured offtake arrangement to a wind farm that has been producing electricity for nearly a decade.

With Skyborn having assumed sole ownership of the project earlier in 2026, the agreement with InCommodities positions the asset with a dedicated commercial partner as the farm moves further into its operational life.

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