Public Investment Fund completed the acquisition of a 9.5% stake in Skyborn Renewables.

Public Investment Fund, a sovereign wealth fund, completed the acquisition of a 9.5% stake in Skyborn Renewables, an offshore wind energy company. Financial terms were not disclosed. “This investment opportunity enhances our objectives to increase our portfolio of investments in the low carbon sector, which now includes solar, power generation, electric vehicles and offshore wind energy. Offshore wind has a key role to play in driving global decarbonisation and we see significant growth opportunities for Skyborn,” Turqi A Alnowaiser, PIF Deputy Governor.