CIP Buys Ørsted’s European Onshore Platform in €1.44 Billion Strategic Deal

Copenhagen Infrastructure Partners has agreed to acquire the European onshore renewables business of Ørsted for €1.44 billion, equivalent to approximately $1.7 billion. The transaction transfers control of a sizeable operating portfolio and development pipeline covering onshore wind, solar power, and battery storage across several core European markets.

The deal represents one of the largest recent onshore renewables transactions in Europe and reflects ongoing capital reallocation across the sector as developers and investors reposition portfolios in response to shifting policy, financing conditions, and technology priorities.

 

Ørsted Completes Capital Strengthening Program

 

For Ørsted, the divestment marks the conclusion of a multi-year asset rotation strategy designed to reinforce its balance sheet after a period of financial and political headwinds. The company has faced rising costs, delayed project timelines, and regulatory uncertainty, particularly in the United States, where the policy environment for renewable energy has become less predictable.

Across 2025 and 2026, Ørsted signed divestment transactions totaling approximately DKK 46 billion, exceeding its previously stated target of DKK 35 billion. Key transactions included the sale of a 50 percent stake in the Hornsea 3 offshore wind project in the United Kingdom to Apollo and the sale of a majority stake in Taiwan’s Changhua 2 offshore wind project to Cathay Life Insurance. The sale of the European onshore business finalises this programme and significantly improves Ørsted’s capital position.

 

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Strategic Refocus on Offshore Wind

 

The transaction also aligns with Ørsted’s longer-term strategy to concentrate resources on offshore wind in its core European markets. Management has repeatedly signalled that scale, capital intensity, and execution complexity in offshore wind require tighter strategic focus, particularly as project economics face pressure from higher interest rates and supply chain constraints.

According to Ørsted’s Chief Financial Officer Trond Westlie, the European onshore platform had developed into a strong and credible business in its own right, making it well suited for ownership under a specialist infrastructure investor. The divestment allows Ørsted to redeploy capital toward offshore wind while ensuring continuity for the onshore portfolio under a long-term owner.

 

Scope and Scale of the Onshore Portfolio

 

The acquired business includes more than 800 megawatts of assets either operating or under construction, comprising approximately 578 megawatts of operating capacity and 248 megawatts currently being built. In addition, the platform includes a multi-gigawatt development pipeline spanning Ireland, the United Kingdom, Germany, and Spain.

The portfolio is diversified across technologies, combining mature onshore wind assets with solar photovoltaic projects and battery storage developments. This mix reflects the evolution of European power markets, where hybrid portfolios are increasingly valued for their ability to support grid stability and capture multiple revenue streams.

 

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CIP Expands Its Flagship Fund Deployment

 

CIP is acquiring the business through its fifth flagship fund, CI V. The fund reached final close last year with commitments totaling €12 billion and is focused on large-scale renewable infrastructure in low-risk OECD markets across Europe, North America, and the Asia Pacific region.

For CIP, the acquisition provides immediate scale in attractive European markets alongside an experienced development and operations team. The firm views the platform as well positioned to benefit from sustained electricity demand growth driven by electrification, industrial decarbonisation, and tighter supply-demand balances in European power systems.

Nischal Agarwal, Partner at Copenhagen Infrastructure Partners, highlighted the combination of operating assets and future pipeline as a key driver of value creation. With strong demand fundamentals and established regulatory frameworks in the target markets, CIP aims to further develop, optimise, and monetise the portfolio over time.

 

Broader Implications for Europe’s Energy Transition

 

The transaction underscores a broader trend in Europe’s energy transition, where capital-intensive developers are increasingly partnering with or selling assets to infrastructure investors to recycle capital and manage balance sheet risk. As renewable portfolios mature, ownership is progressively shifting toward long-term investors focused on stable cash flows and operational optimisation.

For the market, the deal reinforces confidence in onshore wind, solar, and storage as investable, scalable infrastructure assets, even as attention often gravitates toward offshore wind and emerging technologies. It also highlights how strategic clarity and portfolio discipline are becoming as important as project development expertise in navigating Europe’s next phase of renewable energy growth.