Ørsted, the global leader in offshore wind, has signed an agreement with Copenhagen Infrastructure Partners (CIP), through its fifth flagship fund, Copenhagen Infrastructure V (CI V), to divest its entire European onshore business. The total value of the transaction is EUR 1.44 billion (DKK 10.7 billion) with expected closing in Q2 2026, subject to regulatory approvals.
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 approx. DKK 46 billion, delivering on the company’s target of more than DKK 35 billion in proceeds during this period.
Together with the strengthening of Ørsted’s balance sheet and the finalisation of its divestment programme, 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.
Trond Westlie, Chief Financial Officer of Ørsted, says:
'Ørsted’s European onshore business has developed a very solid pipeline and project portfolio, and I’m very satisfied that we’ve found a new owner of that business in CIP, as we’ve 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’ve laid out, and we’ve now substantially strengthened Ørsted’s financial position.'
Mads Skovgaard-Andersen, CIO and Partner in Copenhagen Infrastructure Partners, says:
'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 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.'
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 578 MW, 248 MW under construction, and a 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.
For further details on the transaction structure and financial impact, please follow the following link:Annual reports and presentations | Ørsted
Source: Ørsted
