In a sweeping move to anchor itself in the global renewable energy market, Apollo Global Management announced a $6.5 billion investment for a 50% stake in Hornsea 3, the world’s largest offshore wind project, owned by Danish energy titan Ørsted AS. The colossal wind farm—nestled in the North Sea off England’s east coast—marks a milestone partnership between U.S. private capital and European clean energy ambitions.
Apollo said its infrastructure fund will channel the investment to become a joint venture partner with Ørsted, covering half of the project’s remaining construction costs. The deal represents one of the largest private infrastructure investments in the renewable sector to date.
Funding a Global Energy Giant
Under the agreement, Apollo will pay $3.25 billion upon closing and another $3.25 billion once the project meets key construction and development milestones. The transaction is expected to close before the end of 2025, pending regulatory approvals from several jurisdictions.
“This is a highly significant transaction in the context of the U.K.’s transition toward a net-zero economy,” said Richard Coar, a partner at Linklaters LLP, which is advising Apollo Infrastructure. The legal team includes partners Francesca Matthews, Subir Rajadhyaksha, Michael Honan, Thomas Ford, Henrietta White, and Alexei Franks.
