Headlines
Orsted sells 50% stake in UK wind farm for $6 billion to Apollo
Published by Global Banking & Finance Review®
Posted on November 3, 2025
2 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on November 3, 2025
2 min readLast updated: January 21, 2026
Orsted sells 50% of its Hornsea 3 wind farm to Apollo for $6 billion, a strategic move to stabilize finances amid rising costs.
COPENHAGEN (Reuters) -Denmark's Orsted said on Monday it agreed to sell a 50% stake in Britain's Hornsea 3 offshore wind farm for around 39 billion Danish crowns ($6.09 billion), widely regarded as a crucial move to prevent a crippling credit rating downgrade.
Orsted, the world's largest offshore wind developer, is trying to restore investor confidence as it faces rising costs from supply chain disruptions and inflation, as well as uncertainty wrought by U.S. President Donald Trump's opposition to renewable energy.
The stake in the 8.5 billion pound ($11.41 billion) project was sold to New York-listed Apollo Global Management, which manages more than $800 billion in assets, leaving Orsted with 50% ownership.
"The transaction represents a key milestone in Orsted's funding plan and balances the key objectives for partnerships and divestments with an emphasis on capital management," Orsted said in a statement.
Apollo's investment includes a 50% stake and a commitment to fund 50% of the project's remaining construction costs, the company added.
Orsted in October raised $9.4 billion through a heavily discounted rights issue to shore up its balance sheet, and later announced it would cut about a quarter of its workforce by the end of 2027. Shares closed at 115 Danish crowns on Monday, marking an 85% drop from their 2021 peak.
The 2.9-gigawatt Hornsea 3 project in the North Sea, expected to become the world's biggest offshore wind farm upon completion in 2027, will produce enough energy to power more than 3 million homes in Britain.
Orsted in May discontinued its Hornsea 4 project, citing steep supply chain costs, higher interest rates and increased execution risk, and said the cancellation would cost the company up to 5.5 billion Danish crowns.
($1 = 6.4029 Danish crowns)
($1 = 0.7451 pounds)
(Reporting by Louise Breusch Rasmussen, Gwladys Fouche and Stine Jacobse; editing by Terje Solsvik, Bill Berkrot and Deepa Babington)
An offshore wind farm is a group of wind turbines located in large bodies of water, designed to generate electricity from wind energy.
A credit rating is an assessment of the creditworthiness of a borrower, indicating the likelihood of default on debt obligations.
Investor confidence is the degree of optimism that investors feel about the overall performance of the financial markets or specific investments.
Supply chain disruptions are interruptions in the flow of goods and services from suppliers to customers, often caused by various factors such as natural disasters or economic shifts.
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