Ørsted, currently the world’s largest renewable energy company in terms of market capitalization, has completed an agreement to sell off its entire European onshore business. The contract with Copenhagen Infrastructure Partners (CIP) is worth DKr10.7 billion ($1.69 billion). This impactful transaction demonstrates Ørsted’s transformation into the global offshore wind energy powerhouse. The company is currently focused on cutting costs and optimizing its core, profitable operations on the European market.
The sale includes Ørsted’s European onshore projects based in Ireland, the UK, Germany, and Spain. These activities encompass one of the largest and most diverse portfolios of wind and utility-scale solar energy projects, as well as several battery energy storage systems (BESS). Right now, Ørsted only has 578 megawatts (MW) in these industries—combined offshore and onshore—in operation, with another 248 MW under construction.
CIP is enabling this divestment through CIP’s fifth flagship fund, Copenhagen Infrastructure V (CI V). Ørsted will keep ownership of its US onshore business, which has been run autonomously since Ørsted US onshore CEO left in October 2025. The deal still needs to be cleared by various regulators but is expected to close in the second quarter of this year.
Ørsted’s divestment program aims to bolster the company’s financial stability, with expected proceeds totaling approximately DKr46 billion by the end of 2026. This campaign includes the past announcements on the sale of a 50% equity share in Hornsea 3. It includes divesting a controlling stake in Changhua 2.
“Ørsted’s European onshore business has developed a very solid pipeline and project portfolio, and I am very satisfied that we have found a new owner of that business in CIP, as we have decided to concentrate our efforts on offshore wind in our core European markets.” – Trond Westlie
CIP’s acquisition strengthens its footprint in Europe while rounding out its current project portfolio and advancing diversification efforts. Mads Skovgaard-Andersen, CIP chief investment officer and partner, noted the transformational impact of this deal.
“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 the deployment of renewable energy and strengthen Europe’s energy independence while delivering strong, risk-adjusted returns to our investors.” – Mads Skovgaard-Andersen
That means Ørsted has officially hit an exciting milestone! Early last month, the company reached a milestone of installing all turbines at the 920 MW Greater Changhua offshore wind mega project in Taiwan. This demonstrates the firm’s continued dedication to bolstering its offshore expertise.