Ørsted Makes Final Investment Decision on World’s Largest Offshore Wind Farm

Danish energy company Ørsted has announced its final investment decision (FID) on Hornsea 3, the world’s largest single offshore wind farm.

With a capacity of 2.9 GW, Hornsea 3 will be Ørsted’s third gigawatt-scale project in the Hornsea zone, joining Hornsea 1 (1.2 GW) and Hornsea 2 (1.3 GW). The completion of Hornsea 3, expected by the end of 2027, will create an offshore wind cluster in excess of 5 GW when combined with Hornsea 1 and 2.

Ørsted says it has all major contracts in place, including an agreement with Siemens Gamesa for offshore wind turbines. The wind farm, located 160 km off the Yorkshire coast, is expected to provide low-cost, green energy to over 3.3 million UK homes, contributing to the UK government’s goal of having 50 GW of offshore wind capacity by 2030.

During its construction phase, Hornsea 3 will support up to 5,000 jobs, with up to 1,200 permanent jobs in the long operational phase.

Ørsted’s investment in the UK clean energy infrastructure and supply chain demonstrates its confidence in the UK offshore wind market. The company currently operates 12 offshore wind farms in the UK. Hornsea 3 was awarded a contract for difference (CfD) at a strike price of GBP 37.35 per MWh in 2012 prices.

“Offshore wind is an extremely competitive global market, so we also welcome the attractive policy regime in the UK which has helped secure this investment,” said Mads Nipper, Group President and CEO of Ørsted. “We look forward to constructing this landmark project, which will deliver massive amounts of green energy to UK households and businesses and will be a significant addition to the world’s largest offshore wind cluster.”

Ørsted’s Hornsea 4 project, with a potential capacity of up to 2.6 GW, is also part of the Hornsea zone. The project recently received its development consent order from the UK government and is eligible for future CfD allocation rounds.

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up