Member News: Ørsted signs agreement to divest European onshore business to Copenhagen Infrastructure Partners
Solar Ireland member Ørsted has signed an agreement with Copenhagen Infrastructure Partners (CIP) to divest its European onshore business, including its renewable energy portfolio across Ireland, the UK, Germany and Spain.
The transaction, valued at €1.44 billion, includes a portfolio of operational and construction-stage renewable assets across Europe, including projects across the island of Ireland. The deal is expected to close in Q2 2026, subject to regulatory approvals.
The European onshore business, headquartered in Cork, develops and operates onshore wind, solar and battery storage projects, and currently supplies renewable electricity equivalent to the needs of more than 250,000 homes across Ireland.
Following completion of the transaction, the business will operate as a standalone company under a new name and brand, which will be announced in the coming months. Its people, assets, projects and development pipeline in Ireland will remain in place, with Cork continuing as the European onshore headquarters.
TJ Hunter, Vice President for Onshore in the UK and Ireland at Ørsted, added:
“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.”
The agreement forms part of Ørsted’s wider strategy to focus on offshore wind development in core European markets, while enabling the European onshore business to continue expanding its wind, solar and storage portfolio under new ownership.