Orsted is mooted to have taken binding offers in recent days for its European onshore renewables platform, according to market sources.

The project Grace transaction is set to include Orsted’s circa 180-strong development team located across Ireland, the UK, Germany and Spain, in addition to its circa 800 MW operational and construction-stage portfolio and its development pipeline.

Engie, AIP, Wren House Infrastructure and Copenhagen Infrastructure Partners were all believed to have made a second round of bidding for the platform in September, with the final two at least touted to have remained in the process through to submitting a binding bid.

It is not yet known whether one of the parties has been granted exclusivity.

Orsted as of March 31, 2025 had 561 MW of operational onshore wind projects in Europe with COD dates ranging from 2006 to 2025 and operating under a range of routes-to-market, including state-backed REFIT (Ireland), ROC (UK) and EEG (Germany) tariffs, corporate PPAs and projects in post-subsidy periods.

Of the projects that have unexpired contracted revenues, these will reach the end of their terms between 2025 and 2044, according to a Q1 2025 investor report.

Key sites in the portfolio include the 62 MW, PPA-backed Kennoxhead 1 wind farm in Scotland, the 50 MW Bahren West 1 in Germany and the 45 MW Kilgarvan site in Ireland, along with around 25 other facilities.

Meanwhile, Orsted also holds 14 MW of operational solar, another 152 MW of PV under-construction and 122 MW of construction-stage onshore wind, alongside a more expansive development pipeline.

The Denmark-based developer re-entered the European onshore renewables market in 2021 with the acquisition of Brookfield’s UK and Irish onshore wind platform, which at the time comprised a 389 MW portfolio of onshore wind in operation and under construction, with a further 149 MW at advanced development and a 1 GW-plus project pipeline.

The group has subsequently added to the platform with a succession of project acquisitions and co-development deals, such as agreeing a partnership with Terra Solar to develop an up to 400 MW pipeline of PV projects in Ireland in Q3 2023 and at around the same time an investment in an up to 740 MW UK solar pipeline being brought forward by PS Renewables.

BNP Paribas is advising Orsted on the sale.

CIP declined to comment. Neither Wren House nor Orsted responded to a request for comment.

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