{"id":112300,"date":"2021-04-16T15:52:08","date_gmt":"2021-04-16T15:52:08","guid":{"rendered":"https:\/\/fin2me.com\/?p=112300"},"modified":"2021-04-16T15:52:08","modified_gmt":"2021-04-16T15:52:08","slug":"danish-energy-giant-orsted-is-pivoting-to-onshore-wind-in-new-684-million-deal","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/danish-energy-giant-orsted-is-pivoting-to-onshore-wind-in-new-684-million-deal\/","title":{"rendered":"Danish energy giant Orsted is pivoting to onshore wind in new $684 million deal"},"content":{"rendered":"<ul>\n<li>Brookfield Renewable Ireland, or BRI, specializes in the development and operation of onshore wind farms.<\/li>\n<li>In a statement issued Friday, Orsted described BRI as having &quot;an attractive portfolio&quot;. <\/li>\n<\/ul>\n<p>In this article<\/p>\n<ul>\n<li><span>ORSTED-DK<\/span><\/li>\n<\/ul>\n<p>Orsted said Friday it had reached an agreement with Brookfield Renewable to purchase a 100% equity interest in the latter&#x27;s Irish and U.K. onshore wind business, Brookfield Renewable Ireland.<\/p>\n<p>Orsted said the deal would see it enter Europe&#x27;s onshore market. In 2014 the company, which was then known as DONG Energy, divested its last activities in onshore wind to focus on the offshore sector.<\/p>\n<p>According to Orsted, the agreement has an enterprise valuation of 571 million euros ($684 million), although this figure is subject to adjustments. The deal is slated to close in the second quarter of 2021.<\/p>\n<p>Brookfield Renewable Ireland, or BRI, is headquartered in the Irish city of Cork and specializes in the development and operation of onshore wind farms.<\/p>\n<p>Orsted described BRI as having &quot;an attractive portfolio&quot; which includes 389 megawatts (MW) in operation and under construction as well as a development pipeline of over 1 gigawatt (GW).<\/p>\n<p>&quot;In the US, we&#x27;ve built a strong onshore business with 4 GW in operation and under construction,&quot; Orsted CEO, Mads Nipper, said in a statement.<\/p>\n<p>&quot;The European market for onshore wind power is expected to grow significantly in the coming years,&quot; Nipper added.<\/p>\n<p>He went on to state his firm&#x27;s acquisition of BRI would provide it with &quot;a strong platform that expands our presence in onshore renewables to Europe.&quot;<\/p>\n<p>Europe is home to a well-developed wind energy industry. According to figures from WindEurope, 2020 saw 14.7 GW of wind energy capacity installed there.<\/p>\n<p>The industry body says 80% of these installations were in the onshore sector, with total onshore capacity amounting to 194 GW.<\/p>\n<p>In the U.S., onshore capacity stands at more than 122 GW, according to the American Clean Power Association. China, a dominant force in wind energy, boasts over 278 GW of onshore capacity, the Global Wind Energy Council says.<\/p>\n<p>Capacity refers to the maximum amount that installations can produce, not what they are necessarily generating.<\/p>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/04\/16\/danish-energy-giant-orsted-pivots-to-onshore-wind-in-684-million-deal.html\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brookfield Renewable Ireland, or BRI, specializes in the development and operation of onshore wind farms. In a statement issued Friday, Orsted described BRI as having [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":112299,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Danish energy giant Orsted is pivoting to onshore wind in new $684 million deal - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/danish-energy-giant-orsted-is-pivoting-to-onshore-wind-in-new-684-million-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Danish energy giant Orsted is pivoting to onshore wind in new $684 million deal - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Brookfield Renewable Ireland, or BRI, specializes in the development and operation of onshore wind farms. 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