Ørsted has confirmed it will sell a 50% equity ownership share in its 2.9 GW Hornsea 3 Offshore Wind Farm in the UK to Apollo

The transaction, valued at approximately DKK 39 billion (€5.22 billion), covers both the acquisition of the 50% equity share and Apollo’s commitment to fund 50% of payments under the engineering, procurement and construction (EPC) contract for the wind farm and its offshore transmission asset.

Ørsted has previously turned to Norway for help with funding with Efskin providing more than €0.5 billion to support the project.