Mubadala Investment Company, an Abu Dhabi sovereign investor, has confirmed a US$325M investment in Ørsted’s Hornsea 3 offshore windfarm, which, once completed, will be the world’s largest such project
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.
Mubadala head of EMEA infrastructure Karim El Jazzar 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.”
Apollo infrastructure partner Adam Petrie 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.”
The 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.
