Orsted has entered the European onshore market with the acquisition of Brookfield Renewable’s Ireland and U.K. onshore wind business, Brookfield Renewable Ireland (BRI).
The transaction gives BRI an enterprise value of €571 million ($683 million).
Headquartered in Cork, Ireland, BRI is a developer, owner and operator of onshore wind farms. The company has a 389-megawatt portfolio of wind farms in operation and under construction, 149 megawatts in advanced development, and a gigawatt-plus development pipeline in Ireland and the United Kingdom.
“We’re excited to acquire BRI, which has a strong strategic and operational fit to Orsted combined with what we believe to be very complementary business cultures,” said Declan Flanagan, CEO of Orsted’s onshore business unit. “We’ve learned that, like Orsted, the BRI team are ambitious, prioritize safety and quality, and strive to be a good neighbor in the communities they operate in.”
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