Apollo Grows Europe Energy Bet With $6.5 Billion Orsted Deal

Apollo Global Management Inc. agreed to invest $6.5 billion in a huge Orsted A/S offshore wind farm in the UK, the latest in a string of major European energy deals for the US private equity firm.

The investment is a vote of confidence in Orsted as it works to complete a series of large projects and refocus on Europe following costly setbacks in the US. Hornsea 3 is Orsted’s biggest wind farm under construction, making its successful delivery key to the company’s recovery and future growth.