DNV supports Ørsted as technical advisor to support divestment of stake in wind farm

The Hornsea 3 offshore wind farm, located 160 km off the Yorkshire coast and 120 km off the Norfolk coast, will feature 197 Siemens Gamesa SG DD-236 wind turbines and shall be the world’s single largest offshore wind farm when construction is completed.

Working in close collaboration with Ørsted, DNV conducted an independent energy yield assessment and undertook a detailed technical due diligence study on all aspects of the offshore wind farm and the associated offshore transmission assets, which use state of the art HVDC technology.

Drawing on DNV’s extensive offshore wind experience, this work identified the key technical and commercial aspects of the project for consideration by the multiple financial institutions which supported the 50% ownership stake divestment to the buyer, Apollo Funds.

By 2050, offshore wind is set to become the UK’s main power source, supplying two-thirds of the nation’s grid electricity. DNV’s latest UK Energy Transition Outlook forecasts that capacity will reach 76 GW by then, fuelled by offshore wind’s ability to generate more consistent power than onshore sites. There is already a rapid shift: capacity is expected to nearly double from 15 GW today to 28 GW by 2030.

Hari Vamadevan, Senior Vice President and Regional Director for the UK & Ireland, Energy Systems at DNV, commented: “Advising on the divestment of a stake in Hornsea 3 demonstrates how critical independent technical assurance is for unlocking the capital required for the UK’s energy transition. Our latest UK forecast shows that projects of this scale are essential: we need to install new offshore wind capacity at more than twice the historical rate to meet the 2030 target and support the massive electrification of transport and heating demand.”

Vamadevan concluded: “This project exemplifies the complex technical and financial ecosystem that must work in unison. Our multidisciplinary due diligence – from energy yield assessment to the review of pioneering HVDC transmission assets – provided the rigorous analysis needed to give Ørsted and its financial partners the confidence to advance a project that will be a cornerstone of the UK’s future clean power system.”

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

Energy Global's Winter 2025 issue

Don’t miss out on our final issue of Energy Global this year! The Winter issue begins with a regional report on Africa’s energy future, with articles on topics such as wind turbine components, geothermal drilling & operations and energy storage technology. With contributors including Magnomatics, Flyability, Bachmann electronic GmbH, NOV, and more, don’t miss out!

Read the article online at: https://www.energyglobal.com/wind/22012026/dnv-supports-rsted-as-technical-advisor-to-support-divestment-of-stake-in-wind-farm/