Copenhagen Infrastructure Partners, through its fifth flagship fund, Copenhagen Infrastructure V (CI V), has agreed to acquire Ørsted’s European onshore business, with over 800 MW in operation and under construction, and a multi–gigawatt development pipeline across Ireland, the UK, Germany and Spain.
The acquisition adds a fully integrated, multi-technology onshore business to CI V, which is expected to allow CIP to accelerate renewable energy deployment across Europe. The development and operational capabilities, says CIP, combined with its investment discipline and industrial expertise, ‘will create a compelling opportunity for a significant build out and long-term value creation.’
Mads Skovgaard-Andersen, CIO and Partner in 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 BESS portfolio complements our existing project portfolio and gives 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.”
Trond Westlie, CFO of Ørsted, said: “Ørsted’s European onshore business has developed a very solid pipeline and project portfolio, [and we have] 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 … substantially strengthened Ørsted’s financial position.”
CIP manages 13 funds and has to date raised approximately €35 billion for investments in energy and associated infrastructure from more than 200 international institutional investors.
