Ørsted acquires European onshore renewables developer Ostwind

Facebook
Twitter
LinkedIn
Reddit
Email
The acquisition will expand Ørsted’s onshore presence in Europe to France and Germany. Image: Ørsted.

Renewables developer Ørsted has entered into an agreement with German developer Ostwind to acquire 100% of its equity interest.

The transaction has been valued at €689 million (US$704 million) which includes financial liabilities of the projects and companies, and is expected to close during the second half of 2022.

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

The German developer has been mostly active in onshore wind development in Germany and France and has an onshore development pipeline of 1GW, of which 88MW is solar PV.

With the acquisition, Ørsted will enter the German and French onshore renewable market and expand its European presence in the onshore renewables industry, after setting up an onshore unit in Spain last month with a multi-gigawatt target.

Moreover, it will further accelerate the Danish company’s renewables ambitions after Gazprom halted its supply of gas to Ørsted last month, prompted by the company’s refusal to pay in roubles.

The standoff prompted its CEO, Mads Nipper, to call for a faster deployment of renewables in Europe.

Neil O’Donovan, CEO of Ørsted onshore, said: “The acquisition of Ostwind is an important step for the strategic expansion of our Onshore business in Europe.

“I’m truly excited about Ostwind becoming part of Ørsted and for our entrance into two important markets, one of which is already key for our offshore business.”

Existing management team at Ostwind will continue to run the company, which will be integrated into the Danish utility’s onshore business division over time.

Read Next

June 30, 2025
Voting on the US tax reconciliation bill is expected to begin in the Senate today, following a draft published on Friday that hit clean energy tax credits hard.
June 30, 2025
Australian module manufacturer Tindo Solar has secured a 30MW solar module supply agreement to power Australia's first "net zero pipeline”.
June 27, 2025
Renewables investment platform Nexwell Power has signed a round of power purchase agreements (PPAs) with “one of the largest” US tech companies for solar PV capacity to be built in Spain.
June 26, 2025
A group of minority shareholders in Norwegian silicon firm REC Silicon has triggered an investigation into the circumstances surrounding the closure of the company’s US polysilicon production site.
June 26, 2025
Nextracker will supply solar tracker systems to a 550MW solar PV project in the Greek province of Western Macedonia, owned by Greek renewables developer PPC Renewables.
June 26, 2025
PV solar cell manufacturer Halocell Energy has launched its first perovskite-based product called the Halocell Ambient Modules.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Media Partners, Solar Media Events
July 2, 2025
Bangkok, Thailand
Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico