The paper investigates the added grid value of co-locating wave energy converters with offshore wind turbine generators and floating photovoltaic solar panels. Grid value is evaluated in terms of power generation variability and electrical infrastructure utilization. Using meteorological reanalysis data for the region of the North Sea, wave, solar and wind energy converters are modelled on an hourly basis to form the power profile of the joint operation. Necessary power ratings of the transmission system are provided both for stand-alone installations and the hybrid parks and is shown to be of higher utilization for the latter case. Suitable locations of hybrid parks are also analyzed and provided in terms of water depth, solar irradiation and favorable wave and wind climate. The joint operation is found to smoothen the power profile on all time scales but influences long term variations most heavily. Added grid value strongly depends on the park configuration as well as metocean conditions. It is shown that by co-locating wave, solar and wind energy converters the utilization of the electrical transmission system is increased compared to stand-alone installations.