Abu Dhabi-based state-owned sovereign investor Mubadala Investment Company has invested $325 million alongside a consortium led by Apollo Funds to acquire a stake in Ørsted’s Hornsea 3 offshore wind project in the United Kingdom.
Hornsea 3, located off the Norfolk coast, is expected to become the world’s largest single offshore wind farm once operational in 2028.
The project is being developed by Danish offshore wind company Ørsted and is expected to deliver 2.9 GW of capacity, enough to power more than 3 million UK homes.
Mubadala said the investment reflects growing long-term electricity demand driven by electrification and expanding data centre infrastructure.
The investment forms part of Mubadala’s strategy of investing alongside experienced partners in infrastructure assets linked to the energy transition, the company noted.
To remind, Ørsted the divestment of a 50% stake in its Hornsea 3 offshore wind project to funds managed by Apollo in late 2025, as part of the transaction valued at about $6.1 billion.
The deal supported Ørsted’s broader funding plan and partnership strategy, aimed at strengthening its capital structure while maintaining operational control of large-scale offshore wind developments.
Under the agreement, Apollo acquired a 50% equity interest in the project and committed to fund half of the payments under the engineering, procurement and construction contract, as well as the offshore transmission assets.
Together with Hornsea 1 and 2, the Hornsea 3 project will form the world’s largest offshore wind zone, with a combined capacity exceeding 5 GW.