Ørsted Sells 50% of Hornsea 3 Offshore Wind Project to Apollo for $5.6 Billion

Ørsted A/S (CPH: ORSTED) has signed an agreement to divest a 50% ownership interest in its 2.9 GW Hornsea 3 Offshore Wind Farm to funds managed by Apollo Global Management in a transaction valued at around DKK 39 billion ($5.6 billion). The deal marks a major step in Ørsted’s capital recycling strategy and will significantly strengthen the company’s balance sheet as it continues to execute one of the world’s largest renewable buildouts. Under the agreement, Apollo will acquire half of Ørsted’s equity in H ...