Ireland/UK – Ørsted has entered into an agreement to acquire a 100 % equity interest in UK and Ireland onshore wind business, Brookfield Renewable Ireland (BRI).
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.
Entering European onshore market
Ørsted entered the onshore renewables business in 2018 with an initial focus on the US. Building on the success of the US business, Ørsted has been evaluating opportunities to enter the onshore renewables business in Europe.
The Irish and UK onshore markets offer attractive fundamentals, projects at scale, and value creation through a mix of development projects and repowering opportunities. BRI’s existing management team will continue to run the business which will be integrated into Ørsted’s Onshore business unit over time. The transaction is expected to close by Q2 2021.