Ørsted, the global leader in offshore wind, has signed an agreement with Copenhagen Infrastructure Partners (CIP), through its Flagship fund V (CI V), to divest its entire European onshore business, including the 373 MW portfolio of operational onshore wind farms and 178 MW active construction projects across the island of Ireland. The total value of the transaction is EUR 1.44 billion (DKK 10.7 billion) with expected closing in Q2 2026, subject to regulatory approvals.

The European onshore business, headquartered in Cork, builds and operates wind, solar and storage projects in Ireland, the UK, Germany and Spain. It will become a standalone company operating under a new name and brand, to be announced in the coming months. Its people, assets, construction projects and development pipeline in Ireland are unaffected by the transaction.

The business has a long-established presence across the island of Ireland, spanning onshore wind, solar and battery storage, and currently powers more than 250,000 homes with renewable electricity. Ireland will continue to serve as the European onshore headquarters following completion of the transaction.

Together with the 50 % divestment of Hornsea 3 and the agreement to divest 55 % of Changhua 2, Ørsted has now signed the three cornerstone transactions that were previously announced. Ørsted has thereby finalised its divestment programme as planned and significantly strengthened its financial foundation. With the divestment of its European onshore business, Ørsted has signed transactions during 2025-2026 with proceeds totalling approx. DKK 46 billion, delivering on the company’s target of more than DKK 35 billion in proceeds during this period.

The transaction also contributes to delivering on Ørsted’s strategic priority of refocusing on offshore wind in its core European markets, where a significant amount of capacity is expected to be tendered in the coming years.

Kieran White, Senior Vice President of Europe Onshore at Ørsted, commented: “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.”

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.”

Mads Skovgaard-Andersen, CIO and Partner in Copenhagen Infrastructure Partners, says: “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 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’s European onshore business is present active in Ireland, the UK, Germany, and Spain and spans onshore wind, solar energy, and battery storage projects. It comprises an operational capacity of 578 MW, a further 248 MW under construction, and a multigigawatt development pipeline.

Separate to its European onshore business, Ørsted continues to own and operate its onshore business in the US, which has been run as a stand-alone business unit since October 2025.

For further details on the transaction structure and financial impact, please follow the following link: Annual reports and presentations | Ørsted