CIP completes acquisition of Ørsted’s European onshore platform and launches Perigus Energy

Formerly part of Ørsted, the business takes on a new name, identity, and ambition as Perigus Energy.

Perigus Energy looks to support Europe’s energy security and transition by developing, building, and operating onshore wind, solar, and battery storage projects in Ireland, Germany, the UK, and Spain. Currently, its portfolio delivers clean, home-grown and reliable electricity to power the equivalent of circa 600 000 European homes, with five further projects currently under construction in Ireland and Germany.

Perigus Energy has a total operational and under-construction capacity of 826 MW, supported by a resilient commercial structure, combining government-backed supports schemes and corporate power purchase agreements (CPPAs). All existing contracts, partners, and counterparties remain unaffected by the transaction.

Perigus Energy is built on decades of hands-on delivery experience across multiple markets and technologies. Its people and projects continue unaffected and with this strong foundation, now with the backing of CIP, the company’s immediate focus is to unlock the full potential of its multi-gigawatt, investment-ready pipeline and bring new renewable capacity in Europe.

Kunal Patel, Partner of CIP, commented: “Today marks the completion of an important transaction for CI V and a major milestone for continued growth in European onshore renewables. Perigus Energy combines a proven team, an established operating portfolio and a promising multi-gigawatt pipeline across core European power markets. We are proud to support Perigus Energy as it accelerates the delivery of clean, reliable, and affordable power – strengthening Europe’s energy security and independence, while delivering strong, risk-adjusted returns to our investors.”

Kieran White, CEO of Perigus Energy, added: “Perigus Energy is a very exciting next chapter in a long running renewable success story which has evolved from the origins of an Irish farmer’s co-operative and a German family-run business. And so, while our name is new, our people are experienced, and our mission the same.”

White continued: “The high volatility in international energy markets demonstrates clearly Europe’s need for secure, home-grown, and green electricity. With CIP on board, we will enhance our delivery capability across our multi-gigawatt investment-ready pipeline spanning onshore wind, solar, and battery storage. Together, we look forward to advancing renewables to power a secure energy future with care for both society, nature and our people.”

Headquartered in Cork, Perigus Energy has over 200 people working on site and from offices in Regensburg, Lauf, Potsdam, Essen, Hamburg, London, Edinburgh, and Madrid.

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Read the article online at: https://www.energyglobal.com/energy-storage/01052026/cip-completes-acquisition-of-rsteds-european-onshore-platform-and-launches-perigus-energy/