Abu Dhabi’s sovereign fund joins a consortium to fund the 2.9GW wind farm, set to power over 3.3 million UK homes.
Abu Dhabi’s Mubadala Investment Company has committed $325m to the 2.9GW Hornsea 3 offshore wind farm in the UK. The project, located 120km off the Norfolk coast, aims to become the world’s largest offshore wind farm upon completion, supplying renewable energy to more than 3.3 million homes.
Mubadala is partnering with a consortium led by Apollo-managed funds, including USS and La Caisse, which previously acquired a 50% stake in the project. Ørsted retains the remaining 50% ownership and will oversee development, construction, and operations. The investment follows growing demand for large-scale renewable infrastructure in established offshore wind markets.
The deal underscores Mubadala’s strategy of collaborating with experienced partners on high-quality, long-term assets. Hornsea 3 is expected to play a key role in expanding the UK’s renewable energy capacity and reducing carbon emissions.