Ørsted has signed an agreement to divest its entire European onshore renewables business to Copenhagen Infrastructure Partners (CIP), through its fifth flagship fund, Copenhagen Infrastructure V (CI V). The transaction is valued at €1.44 billion (US$1.70 billion) and is expected to close in the second quarter of 2026, subject to regulatory approvals.
The sale completes Ørsted’s previously announced divestment programme, alongside the 50% divestment of Hornsea 3 and the agreement to sell a 55% stake in Changhua 2. With these transactions, Ørsted has signed divestments in 2025–2026 totalling approximately DKK 46 billion, exceeding its target of more than DKK 35 billion in proceeds over the period.
Ørsted said the transaction strengthens its balance sheet and supports its strategic refocus on offshore wind in core European markets, where substantial capacity is expected to be tendered in the coming years.
Trond Westlie, Chief Financial Officer of Ørsted, said: “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, Chief Investment Officer and Partner at Copenhagen Infrastructure Partners, said: “With this significant acquisition across multiple markets and technologies, we further strengthen our presence in Europe. The combined onshore wind, solar and battery storage portfolio complements our existing projects and provides scale to accelerate renewable energy deployment while delivering risk-adjusted returns.”
Ørsted’s European onshore business operates across Ireland, the UK, Germany and Spain, covering onshore wind, solar and battery energy storage projects. The portfolio includes 578 MW of operational capacity, 248 MW under construction and a broader development pipeline. Ørsted said it will continue to own and operate its onshore business in the US, which has been managed as a standalone operation since October 2025.
