Mubadala invests in Hornsea 3 offshore wind farm alongside consortium led by Apollo Funds

Staff WriterABU DHABI - Mubadala Investment Company today announced a US$325 million investment in Ørsted’s Hornsea 3, which, once completed, 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 percent stake in the joint venture holding Hornsea 3, with Ørsted retaining the remaining 50 percent 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.The UK is the largest offshore wind market outside China and one of the most established globally, supported by a stable regulatory environment and long-term policy commitment.The country has set a target of up to 50GW of offshore wind capacity by 2030, as part of its broader ambition to reach net zero. This is underpinned by rising electricity demand, expected to more than double by 2060, reflecting structural shifts across transport, heating, and digital infrastructure.Karim El Jazzar, Head of EMEA, Infrastructure, Mubadala, said, “Hornsea 3 is a large-scale infrastructure asset supporting the expansion of renewable generation capacity in one of the world’s most established offshore wind markets."This investment reflects Mubadala’s approach of investing alongside experienced partners in high-quality infrastructure assets that support the energy transition while delivering long-term value. As electricity demand continues to grow, projects of this scale will play a critical role in expanding generation capacity and supporting the transition to a more sustainable energy system.”Adam Petrie, Infrastructure Partner, Apollo, said, “Mubadala is an exceptional partner, and we are pleased to welcome them to the Hornsea 3 consortium. Their investment alongside Apollo Funds and leading institutional investors speaks to the quality, scale and potential of the Hornsea 3 project as a generational infrastructure asset with the capacity to provide reliable, renewable power to over 3 million homes across the UK.”This transaction further strengthens Mubadala’s partnership with Apollo and builds on its growing portfolio of renewable energy investments globally.Mubadala has previously invested in renewable energy platforms, including Tata Power Renewables, Skyborn Renewables, PAG Renewables, and Rezolv Energy, supporting renewable power development globally.Article Source: Emirates News Agency (WAM)Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.