Ørsted signs agreement with CIP to divest European onshore business

The total value of the transaction is €1.44 billion (DKK 10.7 billion) with expected closing in 2Q26, subject to regulatory approvals.

Ørsted’s European onshore business is active in Ireland, the UK, Germany, and Spain and spans onshore wind, solar energy, and battery storage projects. It comprises an operational capacity of 577 MW, 248 MW under construction, and a multi-gigawatt development pipeline. Separate to 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 since October 2025.

Kieran White, Senior Vice President of Europe Onshore at Ørsted, commented: “With CIP as our new owner, we look forward to accelerating growth across our development pipeline, thereby strengthening our role in Europe’s onshore wind, solar, and battery markets. In the coming months, we’ll announce a new company name and brand. What won’t change is our people, assets, projects, or ambition to deliver renewable energy at scale across Europe.”

TJ Hunter, Vice President for Onshore in the UK and Ireland at Ørsted, added: “We’ve built a solid pipeline of onshore renewable projects across all technologies in the UK, with one operational wind farm in Scotland, one battery project in England, and our first solar developments underway. We have a great team in the UK with strong technical capabilities and a proven track record in developing and building onshore renewable projects in the UK. We now look forward to leveraging this expertise alongside CIP as the new owners and continuing to work with our partners in government, the supply chain, and local communities to bring forward our project pipeline to help the UK Government deliver its Clean Power 2030 ambitions.”

Mads Skovgaard-Andersen, CIO and Partner in CIP, concluded: “With this significant acquisition across multiple markets and technologies, we further strengthen our presence in Europe. The combined onshore wind, solar, and energy storage 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.”

Together with the 50% divestment of Hornsea 3 and the agreement to divest 55% of Changhua 2, Ørsted has now signed the three cornerstone transactions that were previously announced. Ørsted has thereby finalised its divestment programme as planned and significantly strengthened its financial foundation. With the divestment of its European onshore business, Ørsted has signed transactions during 2025 – 2026 with proceeds totalling approximately DKK 46 billion, delivering on the company’s target of more than DKK 35 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.

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