Blackstone (NYSE: BX) has announced that funds managed by Blackstone Infrastructure have entered into a definitive agreement to invest up to €2 billion in Eurowind Energy. The capital injection is designed to accelerate the pan-European developer’s renewables activities as the continent faces a significant surge in power demand.
Headquartered in Denmark, Eurowind Energy operates across sixteen European markets, managing a portfolio that includes onshore wind, solar, battery storage, and biogas solutions. The investment arrives at what Blackstone describes as an “inflection point” for European energy, where electrification, AI, and re-industrialisation are expected to drive annual demand growth of over 3% through 2040.
The firm is currently jointly owned by its founders and the Danish energy and telecoms conglomerate Norlys. Following the investment, Eurowind plans to increase its installation pace of solar, wind, and battery assets by three to four times its current rate.
“Significant capital will be required to meet European energy demand in the coming years,” said Adam Kuhnley, Co-Head of European Investments at Blackstone Infrastructure. “Jens Rasmussen and the management team have built an outstanding, vertically integrated renewables platform, and we are excited to partner with them to accelerate clean energy deployment across Europe.”
The deal underscores a broader shift toward European energy self-sufficiency. Gert Vinther Jørgensen, Chairman of Eurowind Energy and Group CEO of Norlys, noted that recent global events have highlighted the necessity for “stable and competitive” domestic energy sources.
Jens Rasmussen, CEO of Eurowind Energy, added: “Blackstone brings a long-term perspective with perpetual capital. The investment will allow us to accelerate the pace of expansion and install three to four times more solar and wind energy as well as batteries versus our current pace.”
The investment adds to Blackstone Infrastructure’s extensive renewables portfolio, which includes US-based Invenergy and a joint venture with NextEra Energy. By the end of 2025, Blackstone managed approximately $400 billion in European assets and has signalled its intention to invest an additional $500 billion in the region by 2035, specifically targeting the energy transition and digitalisation.
The transaction is expected to close before the end of 2026, subject to customary closing conditions. Barclays, Nomura Greentech, and Santander served as M&A advisors to Blackstone on the deal.
