Ørsted has entered into an agreement with Brookfield Renewable to acquire a 100% equity interest in its existing Ireland and UK onshore wind business, Brookfield Renewable Ireland (BRI). With this transaction, Ørsted will enter the European onshore wind market. The transaction is expected to close by Q2 2021 and BRI’s existing management team will continue to run the business which will be integrated into Ørsted’s Onshore business unit over time.
BRI, headquartered in Cork, Ireland, is a developer, owner, and operator of onshore wind farms in Ireland and Scotland. Its current portfolio comprises of 389 MW capacity in operation and under construction with 149 MW in advanced development stages. It also has more than 1 GW of development pipeline in Ireland and the UK.
Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants, and provides energy products to its customers. The company entered the onshore renewable energy business in 2018 with an initial focus on the US market. Its current onshore portfolio comprises of 4 GW of operational and under construction wind and solar projects with a strong pipeline of more projects in development. With an established presence in the US onshore renewable power market, the company is now entering the European onshore market as well.