Renewable energy company Orsted is to sell its entire Cork-headquartered European onshore business in a deal worth €1.44 billion to Danish investment firm Copenhagen Infrastructure Partners (CIP).
The unit, which includes a 373MW portfolio of operational onshore wind farms and 178 MW of active construction projects across the island of Ireland, spans onshore wind, solar energy, and battery storage projects.
The European business builds and operates wind, solar and storage projects in Ireland, the UK, Germany and Spain. Under the deal, it will become a standalone company operating under a new name and brand, but will remain headquartered in Cork with staff transferring to the new business.
“With this significant acquisition across multiple markets and technologies, we further strengthen our presence in Europe,” said Mads Skovgaard-Andersen, CIO and partner in Copenhagen Infrastructure Partners. “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.”
The deal is expected to close in the second quarter of the year.
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“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,” said TJ Hunter, vice president for onshore in the UK and Ireland at Ørsted. “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 deal marks the final signing in Orsted’s planned divestment programme, which includes the 50 per cent divestment of Hornsea 3 and the agreement to divest 55 per cent of Changhua 2.
Orsted continues to own and operate its onshore business in the US, a standalone business unit since October 2025.