Ørsted to sell European onshore business to CIP for $1.7bn

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 offi ...