Former Orsted Onshore execs launch renewables platform Bluestar with US$100 million

Facebook
Twitter
LinkedIn
Reddit
Email
Bluestar has established its first two regional development platforms in North America and Australia. Image: Anders J via Unsplash.

Declan Flanagan, former CEO of Orsted Onshore, has launched a renewables investment platform called Bluestar Energy Capital with an initial capital of US$100 million.

Bluestar’s first phase of its business plan will focus in early-stage development projects, with the possibility to invest in construction and operations projects further down the line.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

After closing the funding round, the new company established its first two regional development platforms in North America (Nova Clean Energy) and Australia (Bluestar Energy Australia), with plans also in the works to develop another renewables investment platform in Europe.

Nova will focus on greenfield development projects with possible mergers and acquisitions in solar, wind and storage. The Australian branch will primarily focused its pipeline in wind projects with plans for further additions in solar and storage.

“We have structured Bluestar as a portfolio of distinct regional platforms based on the conviction that successful project development is a very local business. Success is about empowering regional leadership while bringing global scale and an owner’s attention to detail in managing project and market risk,” said Flanagan.

The company has made several hires of former Orsted Onshore executives, with Dennis Meany elected president and board member of Bluestar, while Jenn Goodwillie has been appointed as head of development at Nova, to name but a few.

Among the investors of Bluestar are investment firms S2G Ventures and Great Bay Renewables, with each company landing a seat on the board of directors.

Read Next

Premium
August 7, 2025
July 2025, the peak of the Australian winter season, saw generation from utility-scale and rooftop solar increase by 12.78% year-on-year in the National Electricity Market (NEM).
August 4, 2025
Australia’s Productivity Commission said the country should phase out subsidies for renewables and replace them with market-based incentives.
August 1, 2025
Western Australia network operator Western Power has confirmed it has granted two more network connection offers to two new large-scale renewable energy projects, bringing its total for 2024/25 to 759MW.
August 1, 2025
Dutch pension fund APG has agreed to provide Octopus Australia with AU$1 billion to support its solar, wind, and BESS portfolio.
July 31, 2025
Lucy Nation has said bp paid the price for proceeding “too quickly,” resulting in its exit from the 26GW AREH project in Pilbara.
July 28, 2025
Australia’s Clean Energy Finance Corporation (CEFC) has announced it has invested a record AU$4.7 billion (US$3.09 billion) in large-scale renewables, energy storage, and transmission projects during the 12-month period ending 30 June 2025.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines