Wind Energy – Investment
Mubadala Investment Company announced a US$325 million investment in Ørsted’s Hornsea 3 OWF.
Once completed, this wind farm will be the world’s single largest offshore wind farm, located off the Norfolk coast in the United Kingdom.
Mubadala is investing alongside a consortium led by Apollo-managed funds, which includes USS and La Caisse.
The investment follows Apollo Funds’ acquisition of a 50% stake in the joint venture holding Hornsea 3, with Ørsted retaining the remaining 50% ownership and continuing to lead the development, construction and operation of the project.
Hornsea 3 is Ørsted’s third gigawatt-scale offshore wind project within the Hornsea zone in the North Sea. Upon completion, the project is expected to deliver 2.9GW of capacity, providing enough renewable electricity to power more than 3.3 million UK homes.
