"The European onshore business, headquartered in Cork, builds and operates wind, solar and storage projects in Ireland, the UK, Germany and Spain. That includes a 373 MW portfolio of operational onshore wind farms and 178 MW active construction projects across the island of Ireland. The Irish operations currently power more than 250,000 homes with renewable electricity."
"With CIP as our new owner, we look forward to accelerating growth across our development pipeline, thereby strengthening our role in Europe's onshore wind, solar, and battery markets. In the coming months, we'll announce a new company name and brand. What will not change is our people, assets, projects, or ambition to deliver renewable energy at scale across Europe"
"It will become a standalone company operating under a new name and brand, with details to be announced in the coming months. Orsted will focus on its offshore business. Ireland will continue to serve as the European onshore headquarters following completion of the transaction."
CIP is acquiring Orsted's European onshore business through its Flagship fund V, creating a standalone company that will adopt a new name and brand. The Cork-headquartered unit builds and operates onshore wind, solar and battery storage projects across Ireland, the UK, Germany and Spain. The portfolio includes 373 MW of operational onshore wind and 178 MW under construction across the island of Ireland, with Irish operations supplying renewable electricity to more than 250,000 homes. Overall European onshore capacity totals 578 MW operational, 248 MW under construction and a multigigawatt development pipeline. The sale is part of Orsted's divestment programme so Orsted can focus on its offshore business, while Ireland remains the European onshore headquarters. Orsted continues to run its US onshore business as a standalone unit.
Read at Irish Independent
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