CIP completed the purchase through its fifth flagship fund, CI V.

Copenhagen Infrastructure Partners (CIP) has concluded the acquisition of Ørsted’s European onshore renewable business, marking the creation of a new company, Perigus Energy.

In February 2026, Ørsted agreed to the sale as part of its ongoing strategy to divest non-core assets and concentrate on offshore wind operations within Europe.

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The transaction, valued at DKr10.7bn ($1.69bn), is one of several recent divestments by Ørsted, which also included shares in the Hornsea 3 and Changhua 2 projects.

Perigus Energy, now operating independently under a new identity, will continue to develop, construct and run onshore wind, solar and battery storage projects in Ireland, Germany, the UK and Spain.

The company currently operates and has under construction a total capacity of 826MW, supplying electricity to an estimated 600,000 households across Europe. Five additional projects are in progress in Ireland and Germany.

Based in Cork, Ireland, Perigus Energy employs more than 200 staff at its main office and at sites in Edinburgh, Essen, Hamburg, Lauf, London, Madrid, Potsdam and Regensburg.

The company’s commercial framework includes a mix of public support schemes and corporate power purchase agreements, and all existing contracts, partners and arrangements remain in place following the transaction.

Perigus Energy will focus on advancing its development pipeline, aiming to add further renewable capacity across its operating markets.

Perigus Energy CEO Kieran White said: “With Copenhagen Infrastructure Partners on board, we will enhance our delivery capability across our multi-gigawatt investment-ready pipeline spanning onshore wind, solar and battery storage.” 

CIP completed the purchase through its fifth flagship fund, Copenhagen Infrastructure V (CI V).

The transaction adds a fully integrated, multi-technology onshore business to CIP’s portfolio and aligns with its intentions to expand renewable energy infrastructure across Europe.

The takeover brings together CIP’s investment approach with the acquired operational and development expertise of the former Ørsted business.

The completion of the onshore business sale signals the conclusion of Ørsted’s previously announced divestment programme.