Ørsted has completed the divestment of a 50 per cent stake in the Hornsea 3 offshore wind farm to funds managed by Apollo, following an earlier announcement in November 2025. The transaction establishes joint ownership of the project and shared responsibility for future construction payments.
The total value of the deal is around DKK 39 billion, of which approximately DKK 20 billion is payable at closing. This includes a share purchase component of about DKK 10 billion and an initial construction payment of a similar size, with the remaining amount linked to future construction milestones. Total investment in the Hornsea 3 project remains in the range of DKK 70–75 billion.
Ørsted will remain responsible for the construction of Hornsea 3 under a full-scope engineering, procurement and construction contract. The company will also operate and maintain the wind farm from its East Coast base and provide electricity balancing services, as well as a long-term route to market for the power produced.
Hornsea 3 has a planned capacity of 2.9 GW and is located around 160 kilometres off the Yorkshire coast. Once operational, the wider Hornsea zone, comprising Hornsea 1, 2 and 3, is expected to exceed 5 GW of installed offshore wind capacity.
