Amazon signs Germany's largest corporate PPA for offshore wind, securing 600 MW from Skyborn's Gennaker project

2026/6/23

Amazon has signed a long-term power purchase agreement (PPA) with renewable energy developer Skyborn Renewables to procure 600 megawatts (MW) of electricity from the planned Gennaker offshore wind farm in Germany's Baltic Sea, marking the country's largest corporate renewable energy agreement linked to a single project.

Under the agreement announced on June 19, Amazon will purchase electricity equivalent to approximately 61% of Gennaker's total generating capacity, providing a significant revenue foundation for the project as Skyborn advances toward financial close and construction.

The deal underscores the growing role of corporate offtake agreements in financing large-scale renewable energy projects across Europe, where developers are increasingly relying on long-term private contracts rather than government subsidies.

One of Germany's largest offshore wind developments

The Gennaker project will be built off the coast of Mecklenburg-Western Pomerania in northeastern Germany and will have a planned installed capacity of up to 976.5 MW.

The wind farm will consist of 63 offshore wind turbines rated at 15 MW each and is expected to generate enough electricity to supply more than one million households annually.

Skyborn obtained construction approval in December 2025 and plans to reach a final investment decision (FID) and complete project financing in the summer of 2026 before construction begins. Commercial operations are scheduled to start by the end of 2028.

The project will contribute to Germany's target of installing 30 GW of offshore wind capacity by 2030, supporting the country's efforts to expand domestic renewable generation while strengthening energy security following its move away from Russian fossil fuel imports.

€3 billion investment expected to support regional industry

The project represents an investment of approximately €3 billion ($3.5 billion).

Monopile foundations for the wind farm will be manufactured by EEW Special Pipe Constructions (EEW SPC) in Rostock, helping sustain regional manufacturing and supply chains. The company employs around 1,000 people.

Mecklenburg-Western Pomerania Minister-President Manuela Schwesig described Gennaker as the largest energy investment in the state's history, saying the project sends an important signal that major international companies are investing in locally generated renewable energy.

Amazon expands renewable energy portfolio in Germany

Including the Gennaker agreement, Amazon now supports 12 renewable energy projects in Germany, representing more than 1.3 GW of installed capacity, according to the company.

Once fully operational, the portfolio is expected to generate enough clean electricity to power approximately 1.8 million German households.

Amazon has accelerated renewable energy procurement globally as electricity demand from its cloud computing infrastructure, logistics network and artificial intelligence services continues to rise.

The company co-founded The Climate Pledge in 2019 and has committed to achieving net-zero carbon emissions across its operations by 2040. According to BloombergNEF, Amazon is Europe's largest corporate purchaser of renewable energy.

"Long-term collaboration between the public and private sectors is essential for the energy transition," said Rocco Bräuniger, Amazon's Country Manager for Germany, Austria and Switzerland.

"The agreement will help enable nearly one gigawatt of new offshore wind capacity while strengthening Germany's energy security and supporting regional economic development."

Corporate PPAs become a cornerstone of Europe's energy transition

The transaction highlights the rapid expansion of Europe's corporate PPA market as renewable developers seek stable revenue streams without relying solely on government support mechanisms.

For electricity buyers, long-term PPAs provide access to carbon-free power while reducing exposure to wholesale electricity price volatility. For developers, such agreements improve bankability and facilitate project financing.

The Amazon–Skyborn deal also reflects how hyperscale technology companies are becoming anchor customers for utility-scale renewable energy projects, driven by surging electricity demand from data centres and AI infrastructure.

As Europe's offshore wind sector faces mounting financing challenges, large corporate PPAs are increasingly emerging as a key funding mechanism for next-generation renewable energy developments, with the Gennaker agreement setting a new benchmark for Germany's corporate clean energy market.

Resource: Skyborn

This content was published on WindTAIWAN and is shared in collaboration with ENERGYNIPPON.