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Ørsted acquires Ireland and UK onshore wind power platform from Brookfield Renewable

Danish Today, 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.

Denmark s Ørsted buys 389 MW Irish/UK onshore wind business

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Brookfield Renewable Ireland, headquartered in Cork, has 389 MW of wind capacity in operation and under construction, 149 MW in advanced development and more than 1 GW of development pipeline in Ireland and the UK. The Irish and UK onshore markets offer attractive fundamentals, projects at scale, and value creation through a mix of development projects and repowering opportunities, said Declan Flanagan, CEO of Ørsted s onshore business unit. The transaction is expected to close by Q2 2021. BRI s management team would continue to run the business, which would be integrated with Ørsted s over time.

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