Mubadala invests $325m in UK offshore wind project
Mubadala Investment Company has committed $325 million to the Hornsea 3 offshore wind project in the United Kingdom, as part of its strategy to expand investments in global infrastructure and energy transition assets.
The investment is being made through a consortium led by funds managed by Apollo Global Management, following the firm’s acquisition of a 50% stake in the joint venture that owns the project.
Developed by Ørsted, which will retain the remaining 50% stake and continue to lead construction and operations, Hornsea 3 is located off the UK’s eastern coast in the North Sea.
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Muhammad Ali Bandial