Orsted has completed the acquisition of Brookfield Renewables’ onshore wind business in Ireland and the United Kingdom, Brookfield Renewable Ireland (BRI).
Headquartered in Cork, Ireland, BRI has a portfolio of 389MW in operation and under construction, 149MW at a mature stage of development and projects of more than 1GW in the development phase in Ireland and the UK.
Orsted’s chief executive for onshore business Declan Flanagan said: “With this purchase, we are officially entering the European onshore wind market.
“We welcome a BRI team with strong technical competencies and a business culture that complements our own, and we look forward to expanding our portfolio together.”
BRI’s current management team continues to run the business under vice president and chief executive for Ireland & UK onshore Kieran White said: “Today is a really exciting day for our team.
“We have extensive experience in developing and constructing major renewable energy projects in Ireland and the United Kingdom.
“Our collaboration with Orsted, a leader in the global transition to renewable energy, means that we are strongly positioned to drive value creation and increase the capacity for renewable energy in a market that is expected to grow further in the coming years.”
The content of this announcement does not change Orsted’s previously announced financial expectations for the financial year 2021.
As previously announced, the expected investment level for 2021 will increase with the purchase price.