Abu Dhabi sovereign investor Mubadala has confirmed a US$325 million investment in the Hornsea 3 offshore wind farm. The project is located off the Norfolk coast in the United Kingdom and is set to become the world’s largest single offshore wind farm once it is finished.

The investment sees Mubadala join a consortium managed by Apollo Funds. This group also includes USS and La Caisse. The move follows the recent acquisition by Apollo Funds of a 50% stake in the joint venture that holds the project. Ørsted continues to hold the other 50% stake and remains responsible for the development, construction and operation of the site.

Hornsea 3 is the third massive offshore wind project from Ørsted in the North Sea Hornsea zone. The farm is expected to have a capacity of 2.9GW. This will be enough to provide renewable power to more than 3.3 million British homes.

The UK currently represents the largest offshore wind market outside of China. It benefits from a stable regulatory framework and a long term commitment to green energy. The British government wants to reach 50GW of offshore wind capacity by 2030 to help meet net zero goals. Experts expect electricity demand in the UK to double by 2060 as transport and heating systems move away from fossil fuels.

Karim El Jazzar, Head of EMEA, Infrastructure, Mubadala, said: “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. 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, said: “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.”