Ørsted has agreed to sell its entire European onshore business to Copenhagen Infrastructure Partners (CIP) for DKr10.7bn ($1.69bn).

CIP is executing the divestment via its fifth flagship fund, Copenhagen Infrastructure V (CI V).

Ørsted’s European onshore activities include projects across Ireland, the UK, Germany and Spain. They encompass wind, solar energy and battery energy storage systems (BESS), with a total of 578MW in operation and an additional 248MW under construction.

CIP chief investment officer and partner Mads Skovgaard-Andersen 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 give 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.”

For Ørsted, the divestment aligns with its strategy to concentrate on offshore wind projects within Europe, where substantial capacity tenders are projected in the upcoming years.

The transaction is due to be finalised in the second quarter of this year, pending regulatory approvals.

Despite this sale, Ørsted will maintain its onshore operations in the US, which have been independently managed since October 2025.

This deal, along with the sale of a 50% stake in Hornsea 3 and a majority share divestment in Changhua 2, completes Ørsted's previously announced divestment programme.

These transactions collectively aim to enhance Ørsted’s financial stability, with total expected proceeds amounting to approximately DKr46bn by the end of 2026, surpassing its initial target of more than DKr35bn.

Ørsted chief financial officer Trond Westlie said: “Ørsted’s European onshore business has developed a very solid pipeline and project portfolio, and I am very satisfied that we have found a new owner of that business in CIP, as 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 have laid out, and we have now substantially strengthened Ørsted’s financial position.”

Last December, Ørsted’s wholly owned subsidiary Sunrise Wind secured a preliminary injunction from the US District Court for the District of Columbia. The injunction allows for the resumption of activities halted by an earlier suspension order issued by the Director of the Bureau of Ocean Energy Management (BOEM).

This court decision permits the Sunrise Wind Project to restart affected operations while the lawsuit opposing the BOEM Director’s Order continues.

Last month, Ørsted completed the installation of all the turbines at the 920MW Greater Changhua offshore wind project in Taiwan.