Danish renewable energy developer Ørsted is in discussions with U.S. private equity firm Apollo Global Management regarding the potential sale of a 50% stake in the 2.9 gigawatt (GW) Hornsea 3 offshore wind project off the east coast of England, according to a report by the Financial Times.
The talks follow Ørsted’s recent confirmation that it is negotiating with a preferred bidder for a stake in the project, although the company did not name the party involved at the time.
Hornsea 3, which is expected to become the world’s largest single offshore wind farm, is scheduled to begin operations in 2027.
The Copenhagen-based developer is aiming to raise approximately €4.7 billion through asset sales, including the partial divestment of Hornsea 3 and the sale of its onshore wind business. The capital raised is intended to support Ørsted’s broader investment programme.
In addition, the company is pursuing an €8 billion rights issue to finance the construction of its 924MW Sunrise Wind project in the United States.
Ørsted has not publicly commented on the reported talks with Apollo.
