Abu Dhabi’s strategic investor Mubadala Investment Co. has acquired a stake in Skyborn Renewables, alongside Global Infrastructure Partners (GIP).

The acquisition of a 100% interest in Skyborn Renewables provides Mubadala and GIP “with access to the largest private offshore wind developer globally with a long track record of development and an established presence in Europe and Asia Pacific,” the sovereign investor said in a statement on Wednesday.

Mubadala, which manages a global portfolio of assets valued at $284 billion, didn’t give either the size of its stake or the value of the acquisition.

The investment by Mubadala also includes the acquisition of a stake in GIP’s 50% interest in NY Bight Project called Bluepoint Wind, an innovative 1.6GW offshore project in the US that will provide investors with immediate access to the growing offshore wind market in America.

The Skyborn Renewables and Bluepoint Wind investments are part of Mubadala’s rapidly growing clean and sustainable energy portfolio.

In April this year, Mubadala was part of a BlackRock Real Assets-led consortium, which agreed to invest $525 million into the renewable energy arm of India’s Tata Power.

Offshore wind is expected to be one of the fastest growing renewable energy sectors over the next 15 years, with the current 27GW installed capacity set to grow to 290GW by 2035.

However, the forecast growth of the offshore wind market will require annual investments of $50 billion, the statement said.

Skyborn Renewables is headquartered in Bremen, Germany. The company is present in 15 European and APAC markets.