Ørsted Secures $6.5bn Investment from Apollo for Hornsea 3
Apollo Infrastructure is investing $6.5bn to gain a 50% stake in Ørsted's Hornsea 3 UK offshore wind farm project.
The investment will help fund the project in the North Sea in a joint venture with energy firm Ørsted.
- Ørsted will continue to construct the wind farm.
- Ørsted will provide long-term operations and maintenance services.
- Ørsted will provide route-to-market for power generation.
The 2.9GW Hornsea 3 offshore wind farm, located 160km off the Yorkshire coast, will be the world's largest offshore wind project once completed, producing enough electricity to power over 3m UK homes.
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Author's summary: Ørsted receives $6.5bn investment from Apollo.