Mubadala Investment Company has invested USD 325 million (approximately EUR 300 million) in the UK’s Hornsea 3 offshore wind farm, being built by Ørsted at a site located around 120 kilometres off the Norfolk coast .
The Abu Dhabi-based investor is joining a consortium led by Apollo-managed funds, which also includes USS and La Caisse. The investment follows Apollo Funds’ acquisition of a 50 per cent stake in the joint venture that owns Hornsea 3. Ørsted retains the remaining 50 per cent and will build and operate the project on behalf of the partnership.
Offshore construction work on Hornsea 3 is already underway, with the first of the project’s two offshore substations in place, the first export cable installed, and the commencement of foundation installation.
With a planned capacity of 2.9 GW, Hornsea 3 is expected to become the world’s largest single offshore wind farm once operational, generating enough renewable electricity to power more than 3.3 million UK homes. According to information about the project shared earlier, Hornsea 3 is expected to enter operations in 2027.
The project is Ørsted’s third gigawatt-scale development in the Hornsea zone, following Hornsea 1 and Hornsea 2.
“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” , said Karim El Jazzar , Head of EMEA, Infrastructure, Mubadala. “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.”