Abu Dhabi sovereign investor Mubadala Investment will invest $325m in Orsted’s 2900MW Hornsea 3 wind farm.
Mubadala is investing alongside a consortium led by Apollo-managed funds, which includes USS and La Caisse, the investor said.
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.
Karim El Jazzar, Head of EMEA, Infrastructure, Mubadala, said: “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.”
Adam Petrie, Infrastructure Partner, Apollo, added: “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 with the capacity to provide reliable, renewable power to over 3 million homes across the UK.”