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

August 8, 2025
This week several solar developers have raised funds for projects around the world, including BRUC in Europe, Greenalia in the US, Qair in Mauritius and CREC in Philippines.
August 8, 2025
German renewable energy developer ib vogt has officially broken ground on a 99MWp solar PV power plant in South Cotabato, the Philippines.
August 7, 2025
US-based floating solar (FPV) developer D3Energy is constructing a 6MW floating solar system in Monroeville – a village in Huron County, Ohio. 
August 7, 2025
Infinity Power has signed two concession agreements with the Government of Côte d'Ivoire for PV projects with a total capacity of 80MWac.
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 7, 2025
Despite severe flooding in the Waiotahe Valley in New Zealand, Lodestone Energy has confirmed that its 42MW Te Herenga o Te Rā solar PV power plant has continued operations.

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