Mubadala Invests $325M in Hornsea 3 Offshore Wind Farm with Apollo Consortium
Mubadala Investment Company has committed $325 million to Ørsted's Hornsea 3 project, enhancing a consortium led by Apollo-managed funds. This investment is part of the UK's goal to achieve 50GW of offshore wind capacity by 2030, addressing rising electricity demand and supporting the energy transition.
Theia Market Signal Identification - AI AssistedMubadala Investment Company has announced a $325 million investment in Ørsted's Hornsea 3 offshore wind farm, which will be the largest of its kind globally upon completion. This investment aligns with a consortium led by Apollo-managed funds, which includes USS and La Caisse, following Apollo's acquisition of a 50% stake in the project.
Hornsea 3 is set to provide 2.9GW of capacity, powering over 3.3 million homes in the UK. The UK aims for 50GW of offshore wind capacity by 2030, driven by increasing electricity demand, anticipated to double by 2060. This investment strengthens Mubadala's renewable energy portfolio and partnership with Apollo, reflecting a commitment to sustainable energy infrastructure.
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