Ørsted, the Danish energy giant, has struck a deal to sell its entire European onshore business to Copenhagen Infrastructure Partners (CIP) for DKr10.7bn ($1.69bn). The transaction, executed via CIP’s fifth flagship fund, Copenhagen Infrastructure V (CI V), underscores a strategic shift for Ørsted, which is now laser-focused on offshore wind projects within Europe.
The divested portfolio spans Ireland, the UK, Germany, and Spain, encompassing wind, solar energy, and battery energy storage systems (BESS). Currently, 578MW are in operation, with an additional 248MW under construction. CIP’s chief investment officer and partner, Mads Skovgaard-Andersen, expressed enthusiasm about the acquisition, stating, “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.”
For Ørsted, this divestment aligns with its strategy to concentrate on offshore wind projects, where substantial capacity tenders are projected in the coming years. The transaction is expected to finalise in the second quarter of this year, pending regulatory approvals. Notably, Ørsted will retain its onshore operations in the US, which have been independently managed since October 2025.
This deal, along with the sale of a 50% stake in Hornsea 3 and a majority share divestment in Changhua 2, completes Ørsted’s previously announced divestment programme. These transactions collectively aim to enhance Ørsted’s financial stability, with total expected proceeds amounting to approximately DKr46bn by the end of 2026, surpassing its initial target of more than DKr35bn. Ørsted chief financial officer Trond Westlie remarked, “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. The divestment of our European onshore platform finalises the divestment programme that we have laid out, and we have now substantially strengthened Ørsted’s financial position.”
The implications of this deal are significant. For CIP, the acquisition bolsters its renewable energy portfolio and reinforces its commitment to Europe’s energy transition. For Ørsted, the divestment streamlines its focus, potentially accelerating offshore wind projects and enhancing its competitive edge in the sector. The transaction also highlights the growing trend of strategic divestments within the energy sector, as companies realign their portfolios to capitalise on emerging opportunities.
Meanwhile, Ørsted continues to navigate regulatory challenges. Last December, Ørsted’s wholly owned subsidiary Sunrise Wind secured a preliminary injunction from the US District Court for the District of Columbia, allowing for the resumption of activities halted by an earlier suspension order. This court decision permits the Sunrise Wind Project to restart affected operations while the lawsuit opposing the BOEM Director’s Order continues.
Last month, Ørsted completed the installation of all the turbines at the 920MW Greater Changhua offshore wind project in Taiwan, demonstrating its continued commitment to offshore wind development. As the energy sector evolves, such strategic moves and legal maneuvers will likely shape the trajectory of renewable energy deployment and investment.