London: Mubadala Investment Company today announced a US$325 million investment in €¹…€œrsted'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.
According to Emirates News Agency, the investment follows Apollo Funds' acquisition of a 50 percent stake in the joint venture holding Hornsea 3, with €¹…€œrsted retaining the remaining 50 percent ownership and continuing to lead the development, construction, and operation of the project. Hornsea 3 is €¹…€œrsted'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, stated that Hornsea 3 is a significant infrastructure asset supporting the expansion of renewable generation capacity in a leading offshore wind market. This investment aligns with Mubadala's strategy of partnering with experienced entities in high-quality infrastructure assets that aid the energy transition while ensuring long-term value. As electricity demand continues to rise, projects like Hornsea 3 will be essential in expanding generation capacity and aiding the transition to a sustainable energy system.
Adam Petrie, Infrastructure Partner at Apollo, expressed that Mubadala is a valuable partner, and their involvement in the Hornsea 3 consortium, alongside Apollo Funds and leading institutional investors, underscores the project's quality, scale, and potential. The Hornsea 3 project is poised to become a generational infrastructure asset capable of supplying reliable, renewable power to over 3 million homes across the UK.
This transaction further solidifies Mubadala's partnership with Apollo and enhances its expanding portfolio of renewable energy investments worldwide. Mubadala has previously invested in renewable energy platforms, including Tata Power Renewables, Skyborn Renewables, PAG Renewables, and Rezolv Energy, promoting renewable power development on a global scale.