Friday, 16 April 2021
Ørsted has entered into an agreement with Brookfield Renewable, a global owner and operator of renewable power assets, to acquire a 100 % equity interest in its existing Ireland and UK onshore wind business, Brookfield Renewable Ireland (BRI).. Garacummer Wind Farm (Brookfield Renewables)
With the acquisition of BRI, Ørsted enters the European onshore market. BRI, headquartered in Cork, Ireland, is a developer, owner, and operator of onshore wind farms. BRI has an attractive portfolio of 389 MW in operation and under construction, 149 MW advanced development, and more than 1 GW of development pipeline in Ireland and the UK. Ørsted entered the onshore renewables business in 2018 with an initial focus on the US. Today, Ørsted s onshore business has reached a meaningful scale with an operating and in construction portfolio of 4 GW of wind and solar and a strong pipeline of further projects in development. The growth over the past year ranks the business
City A.M.
Danish energy giant Ørsted has today made its first foray into the European onshore wind market with the acquisition of Brookfield Renewable Ireland (BRI).
The Irish firm, which has a portfolio of 389 megawatts of capacity either fully developed or under construction, is valued at €571m (£497.5m).
It also has a further 1 gigawatt of generation capacity under development across the UK and Ireland.
Up to this point Ørsted, one of the world’s leading offshore wind firms, has concentrated its onshore operations in the US.
With 4 gigawatts of capacity currently under development across the Atlantic, the firm has now turned its attention back to its home markets.
Ørsted enters European onshore market with purchase of €570m Brookfield
Orsted, already a big player in the US onshore market, is now targeting similar opportunities in Europe. (Getty Images)
Danish energy giant Ørsted has today made its first foray into the European onshore wind market with the acquisition of Brookfield Renewable Ireland (BRI).
The Irish firm, which has a portfolio of 389 megawatts of capacity either fully developed or under construction, is valued at €571m (£497.5m).
It also has a further 1 gigawatt of generation capacity under development across the UK and Ireland.
Up to this point Ørsted, one of the world’s leading offshore wind firms, has concentrated its onshore operations in the US.
Ørsted acquires Brookfield Renewable Ireland
The acquisition will allow the wind turbine giant to enter the European onshore market
Renewable energy company Ørsted has agreed to buy Brookfield Renewable Ireland (BRI), valued at €571 million (£497m).
The move will allow Ørsted to enter the European onshore wind market.
Headquartered in Cork, Ireland, BRI has a portfolio of 389MW in operation and under construction, 149MW advanced development and more than 1GW of development pipeline in Ireland and the UK.
Mads Nipper, Group President and Chief Executive Officer of Ørsted said: “The European market for onshore wind power is expected to grow significantly in the coming years and with the acquisition of BRI, we get a strong platform that expands our presence in onshore renewables to Europe.”
UK/Ireland: Ørsted acquires Ireland and UK onshore wind power platform from Brookfield Renewable
16 Apr 2021
Ørsted has entered into an agreement with Brookfield Renewable, a global owner and operator of renewable power assets, to acquire a 100 % equity interest in its existing Ireland and UK onshore wind business,
Brookfield Renewable Ireland (BRI). The agreement is based on an enterprise valuation of BRI of EUR 571 million as of 31 December 2020. The final price will be subject to customary adjustments.
With the acquisition of BRI, Ørsted enters the European onshore market. BRI, headquartered in Cork, Ireland, is a developer, owner, and operator of onshore wind farms. BRI has an attractive portfolio of 389 MW in operation and under construction, 149 MW advanced development, and more than 1 GW of development pipeline in Ireland and the UK.