Abu Dhabi state investor Mubadala has announced a $325m investment in Ørsted’s Hornsea 3, which, once completed, will be the world’s single largest offshore wind farm.

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 that holds Hornsea 3, with Ørsted retaining the remaining 50% ownership. The Danish firm is leading the development, construction, and operation of the project.

Hornsea 3, located off the Norfolk coast in the UK, is Ørsted’s third GW-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 3.3m 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.

“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 and infrastructure at Mubadala.