UK, Norfolk, North Sea: Mubadala Investment Company has invested $325 M in Ørsted’s Hornsea 3 offshore wind project, alongside a consortium led by Apollo-managed funds that includes USS and La Caisse.
The Hornsea 3 development is located off the Norfolk coast in the United Kingdom and is expected to become the world’s largest single offshore wind farm once completed. The investment follows Apollo Funds’ acquisition of a 50 % stake in the joint venture holding the project, while Ørsted retains the remaining 50 % and continues to oversee development, construction, and operations.
Hornsea 3 is the third gigawatt-scale installation in Ørsted’s Hornsea zone in the North Sea. When fully operational, it is expected to deliver around 2.9 GW of installed capacity, supplying renewable electricity to more than 3.3 million homes.
The UK remains the largest offshore wind market outside China, supported by long-term policy frameworks and a target of up to 50 GW of offshore wind capacity by 2030. The project aligns with increasing national electricity demand driven by electrification in transport, heating, and digital infrastructure.
Mubadala described the asset as a large-scale infrastructure investment supporting renewable generation expansion in a mature offshore wind market. The company emphasised its strategy of partnering with experienced infrastructure investors to support the energy transition while targeting long-term returns.
Apollo also highlighted the scale and technical significance of Hornsea 3 as a high-capacity renewable generation asset capable of delivering stable offshore wind output at grid scale.
Source: Mubadala
