Danish energy infrastructure fund manager Copenhagen Infrastructure Partners has completed its €1.44 billion (US$1.69 billion) acquisition of Ørsted's European onshore renewable energy business, formally launching Cork-headquartered Perigus Energy as an independent platform focused on onshore wind, solar, and battery storage across Ireland, Germany, the United Kingdom, and Spain. The transaction was executed through CIP's fifth flagship fund, Copenhagen Infrastructure V, and marks the conclusion of Ørsted's previously announced divestment programme as the Danish utility refocuses on offshore wind.

RTÉ reported that Perigus Energy launches with 826 MW of total capacity, comprising 578 MW of operational assets and 248 MW currently under construction, alongside a multi-gigawatt development pipeline. The new company has selected Cork as its European headquarters and employs over 200 people across sites and offices in Ireland, Germany, the UK, and Spain.

Kunal Patel, partner at CIP, said the completion marks an important transaction for CI V and a major milestone for continued growth in European onshore renewables, and that Perigus Energy combines a proven team, an established operating portfolio, and a promising multi-gigawatt pipeline across core European power markets.

Kieran White, chief executive officer of Perigus Energy, said the new company is a very exciting next chapter in a long-running renewable success story, adding that while the name is new, the people are experienced and the mission unchanged.

Access the full story on the launch of Perigus Energy following CIP's acquisition.