Orsted – Ørsted completes divestment of 50 % stake in Hornsea 3

EMR Analysis

More information on Ørsted: See the full profile on EMR Executive Services

More information on Rasmus Errboe (Group President and Chief Executive Officer, Ørsted): See the full profile on EMR Executive Services

More information on Trond Westlie (Group Executive Team – Executive Vice President, Chief Financial Officer, Ørsted): See the full profile on EMR Executive Services

More information on the Ørsted Hornsea 3 Offshore Wind Farm by Ørsted: https://hornseaproject3.co.uk/ + Hornsea Three offshore wind farm could meet the average daily needs of well over 3 million UK homes.

In August 2015, Ørsted acquired the rights to develop the Hornsea Zone from SMart Wind Ltd, who were originally awarded the zone in The Crown Estate Round 3 bid process. To date, Hornsea One and Hornsea Two have both received planning consent, with Hornsea One now operational and Hornsea Two currently under construction.

On 14 May 2018, we submitted a Development Consent Order (DCO) application for a  third project in the zone, Hornsea Project Three Offshore Wind Farm.

The application was accepted by the Planning Inspectorate in June 2018 and was granted consent by the Secretary of State for the Department for Business, Energy and Industrial Strategy on 31 December 2020. 

• Location:
  • Hornsea Three will be located in the North Sea, approximately 120 km off the Norfolk coast and 160 km off the Yorkshire coast.
• Size:
  • Up to 231 offshore wind turbines will be located within a 696 km2 area.
• Power output:
  • The wind farm will be capable of generating at least 2.85 GW of green electricity, enough to meet the average daily needs of well over 3 million homes.

More information on Apollo: https://www.apollo.com/ + Since our founding in 1990, we have believed that adhering to our values is integral to our success. This has allowed us to build an innovative and collaborative culture that can support great businesses and generate attractive returns for our clients.

Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade credit to private equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2025, Apollo had approximately $840 billion of assets under management.

More information on Marc Rowan (Chief Executive Officer and Chair of the Board, Apollo Global Management, Apollo): https://www.apollo.com/aboutus/leadership-and-people