Ørsted has signed an agreement with Copenhagen Infrastructure Partners (CIP) to divest its entire European onshore business in a transaction valued at €1.44bn.
The sale to CIP’s Flagship Fund V includes 578MW of operational onshore wind capacity and 248MW of projects under construction, the majority located in Ireland. It also comprises a multi-gigawatt development pipeline across Ireland, the UK, Germany and Spain.
CIP said the acquisition adds a fully integrated, multi-technology onshore platform to its CI V fund, enabling accelerated deployment of renewable energy across Europe.
“The acquired development and operational capabilities – combined with CIP’s investment discipline and industrial expertise – create a compelling opportunity for significant build-out and long-term value creation,” CIP said.
Ørsted said the transaction is expected to close in the second quarter of 2026, subject to regulatory approvals, and completes its 2025–2026 divestment programme while strengthening the group’s financial position.
The Cork-headquartered business will become a standalone company with a new name and brand to be announced in the coming months. Ørsted said its people, assets, construction projects and development pipeline remain unchanged by the transaction, and Cork will continue to serve as the European onshore headquarters.
The unit currently supplies renewable electricity to more than 250,000 homes 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 said it has now completed its three cornerstone divestments. Transactions signed in 2025–2026 total approximately DKK46bn, exceeding its target of securing more than DKK35bn in proceeds over the period.
Ørsted said the sale supports its strategic priority to refocus on offshore wind in core European markets, where substantial tendering activity 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.”
“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,” White added.
TJ Hunter, vice president for onshore in the UK and Ireland at Ørsted, said: “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.”
“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,” Hunter said.
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.”
“The combined onshore wind, solar and BESS portfolio complements our existing project portfolio and gives us the scale to further accelerate renewable energy deployment and strengthen Europe’s energy independence while delivering strong, risk-adjusted returns to our investors,” he added.
Ørsted said the European onshore business comprises 578MW of operational capacity, 248MW under construction and a multi-gigawatt development pipeline across Ireland, the UK, Germany and Spain.
The company added that it will continue to own and operate its separate US onshore business, which has been run as a standalone unit since October 2025.
