More wind energy investments from Mubadala

Mubadala is investing USD 325 mn in Danish-based Orsted’s Hornsea 3 offshore wind farm off the UK coast, joining a consortium led by US-based Apollo Global Management alongside USS and La Caisse, according to a statement. The agreement comes after Apollo acquired a 50% stake in the joint venture holding the project, with Orsted retaining the remaining half and operational control. Mubadala’s stake hasn’t been disclosed.

The project is massive by offshore wind standards: The 2.9 GW North Sea project is expected to be the single largest offshore wind farm globally, with complete operations set to commence in 2028.

Why it matters

The backdrop here is a global offshore wind sector that needs deep-pocketed partners. Developers across Europe and the US have spent the past year battling higher borrowing costs, turbine inflation, and supply chain bottlenecks that wrecked project economics and forced companies to rethink how they finance large-scale developments.

For Mubadala, the UK’s offshore wind sector — the largest wind market outside China — offers something Gulf sovereign investors want: regulated frameworks, predictable demand growth, and strategic exposure to electrification trends tied to industrial decarbonization.

The pattern: The transaction also comes as part of a broader renewables investment push from Mubadala, with the sovereign wealth fund investing in Skyborn Renewables (also offshore wind), Tata Power Renewables in India, Eastern and Central Europe-focused renewable energy platform Rezolv, and UK-based battery storage group Zenobē.