Orsted to sell 50% of Hornsea 3 project to Apollo

The Danish company Orsted will sell 50% of the Hornsea 3 project to the Apollo fund, which will be responsible for financing 50% of the project's construction costs. Hornsea 3 is a 2.9 GW offshore wind project located 160 kilometres off the coast of Yorkshire in the east of the United Kingdom. It is the largest offshore wind farm in the world. The project is scheduled to come online at the end of 2027. Apollo's investment amounts to $6.5 billion. The fund has invested in the Hinkley Point nuclear project alongside EDF and is financing the renovation of part of the German electricity grid alongside RWE.