Ørsted makes final investment decision on Hornsea Three mega project

Ørsted has made a final investment decision (FID) on the Hornsea Three offshore wind farm currently under development in the North Sea off the UK. 

Ørsted's Hornsea 1 offshore wind farm during construction (pic credit: Ørsted)

The Danish energy major said it expected the 2955MW Hornsea Project Three to be completed and fully commissioned by 2027. The 2.9GW offshore wind project is expected to be the largest wind farm anywhere in the world on completion. 

“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. 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,” Mads Nipper, CEO of Ørsted, said.

Ørsted secured a contract for difference (CfD) for Hornsea Three at an inflation-indexed strike price of £37.35 (€43.13) per MWh (in 2012 prices) last year. 

The company – along with other offshore wind developers – previously warned of an“extraordinary combination” of financial pressures jeopardising development of their projects, including Hornsea Three.

Its size will help the UK meet its target of installing up to 50GW of offshore wind capacity by 2030, with more than 14.5GW installed so far. 

An agreement is in placement for Siemens Gamesa’s 14MW SG 14-236 DD turbines, to be installed on monopiles produced at Seah Wind's factory in Teesside, north-east England.

Ørsted claims Hornsea Three will create thousands of jobs during construction and supply up to 1,200 permanent jobs on completion.

It is located 160km off the coast of Yorkshire in the North Sea. 

In addition to Hornsea Three, Ørsted previously developed the 1218MW Hornsea Project One and 1320MW Hornsea Project Two projects in the North Sea, both of which are now online. 

It is currently developing a fourth wind farm planned for the cluster, the 2600MW Hornsea Project Four project and is targeting the UK’s upcoming offshore wind CfD rounds with the project.  

Should Hornsea Four go ahead, the Hornsea wind complex could host up to 7GW of offshore wind capacity.