Ørsted has signed an agreement with Copenhagen Infrastructure Partners to divest its entire European onshore business.
The €1.44bn sale to CIP’s Flagship fund V covers 578MW of operational onshore wind farms and 248MW of active construction projects, the majority of which are in Ireland.
It also includes a multi-gigawatt pipeline of development projects across Ireland, the UK, Germany and Spain, according to CIP.
CIP said the acquisition adds a fully integrated, multi-technology onshore business to CI V, which will allow it to accelerate renewable energy deployment across Europe.
“The acquired development and operational capabilities – combined with CIP’s investment discipline and industrial expertise, create a compelling opportunity for a significant build out and long-term value creation,” it added.
Ørsted said the transaction, which is expected to close in the second quarter of 2026 subject to regulatory approvals, completes the company’s divestment programme for 2025-2026 and strengthens its financial position.
The Cork-headquartered business builds and operates wind, solar and storage projects in Ireland, the UK, Germany and Spain and will become a standalone company with a new name and brand to be announced in the coming months.
The company’s people, assets, construction projects and development pipeline in Ireland are unchanged by the deal, and Ireland will remain its European onshore headquarters.
Ørsted said the unit currently powers more than 250,000 homes with renewable electricity and has long-established operations across the island of Ireland spanning onshore wind, solar and battery storage.
Together with the 50% divestment of Hornsea 3 and the agreement to divest 55% of Changhua 2, Ørsted has now completed the three cornerstone divestments previously announced.
Ørsted added that the transactions signed in 2025-2026 total approximately DKK46bn, meeting its target of securing more than DKK35bn in proceeds over the period.
The company stated that the sale supports its strategic priority to refocus on offshore wind in core European markets where substantial tendering is expected in the coming years.
Kieran White, senior vice president of Europe onshore at Ørsted, said: “With CIP as our new owner, we look forward to accelerating growth across our development pipeline, thereby strengthening our role in Europe’s onshore wind, solar, and battery markets.”
White added: “In the coming months, we’ll announce a new company name and brand. What will not change is our people, assets, projects, or ambition to deliver renewable energy at scale across Europe.”
TJ Hunter, vice president for onshore in the UK and Ireland at Ørsted, stated: “Across the island of Ireland, our onshore business has grown from a farmer-led co-operative into a company now powering over 250,000 households with renewable electricity.”
Hunter added: “Cork will remain our European onshore headquarters, and, with CIP as our new owner, we’re looking forward to opening new wind farms, repowering parts of our existing fleet, delivering our first Irish solar developments, and accelerating the supply of more secure, home-grown, and cost-competitive green electricity to Irish energy consumers.”
Mads Skovgaard-Andersen, CIO and partner at Copenhagen Infrastructure Partners, said: “With this significant acquisition across multiple markets and technologies, we further strengthen our presence in Europe.”
Skovgaard-Andersen added: “The combined onshore wind, solar, and BESS portfolio complements our existing project portfolio and give us the scale to further accelerate the deployment of renewable energy and strengthen Europe’s energy independence while delivering strong, risk-adjusted returns to our investors.”
Ørsted said the European onshore business comprises 578MW of operational capacity, a further 248MW under construction, and a multigigawatt development pipeline across Ireland, the UK, Germany and Spain.
Ørsted continues to own and operate its separate US onshore business, which has been run as a standalone unit since October 2025.