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.
Shares in the company were little changed in Copenhagen as the company had flagged ...