A booming UK market
The United Kingdom is the largest offshore wind market outside China, supported by a stable regulatory environment and ambitious policy targets. The country is targeting 50 GW of offshore wind capacity by 2030, as part of its net-zero ambition. This momentum is underpinned by rapidly growing electricity demand, expected to more than double by 2060, driven by the electrification of transport, heating, and digital infrastructure. However, the sector is not without challenges, as illustrated by the recent decommissioning of Hong Kong’s only commercial wind turbine after 20 years.
Karim El Jazzar, Head of EMEA Infrastructure at Mubadala, said that 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. He stressed that this investment reflects Mubadala’s strategy of investing alongside experienced partners in high-quality assets that support the energy transition while delivering long-term value. According to him, projects of this scale will play a critical role in meeting growing electricity demand and supporting a more sustainable energy system.
Strategic partnerships
Adam Petrie, Infrastructure Partner at Apollo, welcomed Mubadala’s arrival, calling the partnership exceptional and highlighting the quality and potential of the project. He noted that the investment alongside Apollo and leading institutions demonstrates Hornsea 3’s ability to provide reliable renewable electricity to millions of UK homes. This transaction strengthens the partnership between Mubadala and Apollo and is part of the sovereign fund’s diversification strategy in renewable energy. Mubadala has previously invested in platforms such as Tata Power Renewables, Skyborn Renewables, PAG Renewables and Rezolv Energy.