Abu Dhabi sovereign investor Mubadala has committed $325 million to Hornsea 3, the world’s largest offshore wind farm being developed by Denmark’s Orsted off the coast of Norfolk in the UK.
The investment forms part of a consortium headed by funds managed by US-based Apollo, alongside UK pension scheme USS and Canadian institutional investor La Caisse.
The move comes after Apollo Funds acquired a 50% interest in the joint venture behind Hornsea 3. Orsted will continue to hold the remaining 50% stake and remain responsible for overseeing the project’s development, construction and operations.
Hornsea 3 marks Orsted’s third large-scale offshore wind development in the Hornsea area of the North Sea. Once operational, the project is expected to generate 2.9GW of renewable energy capacity — enough to supply electricity to more than 3.3 million homes across the UK.
Mubadala said the deal aligns with its long-term strategy of investing in high-quality infrastructure opportunities.
The announcement follows another recent clean energy investment by the UAE sovereign wealth fund. Last week, Mubadala disclosed a significant minority stake in US-based Power Factors, a provider of renewable energy management software, alongside current investor Vista Equity Partners.