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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.

Powering Millions With Offshore Wind

Hornsea 3 is Ørsted’s third project in the Hornsea zone, following two earlier installations in the North Sea. Once operational, it will generate low-cost renewable energy for more than three million U.K. households, strengthening the region’s energy independence and cutting reliance on fossil fuels.

“This deal delivers a scaled and comprehensive solution for infrastructure that will promote energy security,” said Adam Petrie, a partner at Apollo Infrastructure. Ørsted echoed that sentiment, emphasizing that Apollo brings “infrastructure expertise and scaled capital” at a crucial time for the company.

Ørsted Battles U.S. Policy Headwinds

The investment comes amid turbulent times for Ørsted, which has faced regulatory setbacks in the U.S. after the Biden administration halted new offshore wind approvals pending a sweeping federal review. The freeze has delayed several of Ørsted’s American ventures, including the Sunrise Wind Farm off New York and Revolution Wind near Rhode Island.

Ørsted has since filed a lawsuit against the U.S. government, arguing that the stop-work order lacks legal foundation. The dispute has left the company vulnerable, pushing it to divest assets like Hornsea 3 to stabilize its balance sheet.

Financing the Future of Wind

RBC Capital Markets is serving as the financial adviser for the deal. Major lenders and investors—BNP Paribas, ING Bank, Lloyds, La Caisse, PSP Investments, and RBC Capital Markets—are providing both debt and equity financing to back the transaction.

Paul Weiss Rifkind Wharton & Garrison LLP is representing the lenders, with a team led by partners David Carmona and Matthew R. Friedman.

For Apollo, the partnership with Ørsted is not just another green investment—it’s a strategic bet on the world’s renewable energy revolution, where private equity capital meets global sustainability goals. With the wind at its back, Apollo’s $6.5B Deal may mark a turning point in the race to power the planet’s clean energy future.