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Ørsted makes European onshore wind return with Brookfield deal
The Danish developer has agreed to acquire 100% of Brookfield Renewable s UK and Irish onshore wind portfolio
by Craig Richard
Ørsted CEO Mads Nipper expects the European onshore wind market to grow significantly in the coming years
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Updated / Friday, 16 Apr 2021
09:44
The Garracummer Windfarm in Co Tipperary
Renewable energy group Ørsted has agreed a deal to buy Brookfield Renewable s Ireland and UK onshore wind business, valued at €571m.
The transaction, the final price of which is subject to adjustment, is expected to close in the second quarter of this year.
Brookfield Renewable is headquartered in Cork and is a developer, owner, and operator of onshore wind farms.
It has a 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.
Brookfield s existing management team will continue to run the business which will be integrated into Ørsted s Onshore business unit over time.
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General view of the Walney Extension offshore wind farm operated by Orsted off the coast of Blackpool, Britain September 5, 2018. REUTERS/Phil Noble/File Photo
Renewable energy group Orsted (ORSTED.CO) has agreed to buy Brookfield Renewable s Ireland and UK onshore wind business, its first step into Europe s onshore wind market, in a deal valued at 571 million euros ($683 million).
Brookfield Renewable Ireland (BRI), headquartered in Cork, develops and operates onshore wind farms in Ireland and the United Kingdom. It has 389 megawatts in operation and under construction, with a project pipeline of more than 1 gigawatt.