Danish renewable energy firm Ørsted has announced plans to sell off its entire European onshore business, which is headquartered in Cork, to an investor group in a deal valued at €1.44bn.
The onshore wind business builds and operates wind, solar and storage projects in Ireland, the UK, Germany and Spain. It is being sold to Copenhagen Infrastructure Partners (CIP).
It will become a standalone company operating under a new name and brand, to be announced in the coming months. Ireland will continue to serve as the European onshore headquarters following completion of the transaction.
Its employees, assets, construction projects and development pipeline in Ireland are unaffected by the transaction. This consists of a 373 megawatt (MW) portfolio of operational onshore wind farms and 178 MW active construction projects across the island of Ireland.
Senior vice president of Europe Onshore at Ørsted Kieran White said they look forward to accelerating growth across our development pipeline under the company’s new owners.
“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”.
Partner at CIP Mads Skovgaard-Andersen said this acquisition will “further strengthen our presence in Europe”.
“The combined onshore wind, solar, and battery energy storage systems portfolio complements our existing project portfolio and gives 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.
Separate from 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.
This latest transaction is part of a wider planned divestment programme by Ørsted.
With the divestment of its European onshore business, Ørsted has signed transactions during 2025-2026 with proceeds totalling approximately €6.16bn, delivering on the company’s target of more than €4.6bn 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,” the company said.
