CIP launches Perigus Energy after €1.44 bn Ørsted onshore deal

Context CIP completed the purchase of Ørsted’s onshore business earlier this year, a move that helps Ørsted free capital for its offshore wind focus. The transaction funds the launch of Perigus Energy, a platform aimed at bolstering Europe’s clean‑energy supply across Ireland, Germany, the United Kingdom and Spain.

Key Facts - The deal totals €1.44 bn (about $1.7 bn). - Acquired assets comprise 578 MW already operating and 248 MW under construction, exceeding 800 MW in total. - A multi‑gigawatt pipeline of wind, solar and battery storage projects now sits under Perigus Energy’s control. - The acquisition was made through CIP’s fifth flagship fund, CI V, which raised €12 bn for large‑scale renewable infrastructure in low‑risk markets. - Kieran White, former Ørsted senior vice‑president for Europe, joins as CEO of Perigus Energy. - Partner Kunal Patel called the transaction “an important milestone for continued growth in European onshore renewables.”

What It Means Perigus Energy gives CIP a ready‑made operating portfolio and a pipeline that can deliver gigawatts of clean power. The assets diversify CIP’s exposure beyond wind to include solar generation and battery storage, aligning with Europe’s push for energy security and decarbonisation. By consolidating these projects under a single platform, CIP can streamline financing, construction and operation, potentially accelerating the rollout of renewable capacity.

The move also signals Ørsted’s strategic shift toward offshore wind, while freeing up capital for new offshore projects. For investors, the €12 bn CI V fund now has a tangible on‑the‑ground presence in key European markets, reducing reliance on future project approvals.

Looking ahead, market watchers will monitor Perigus Energy’s ability to convert its development pipeline into operating assets and how the platform navigates Europe’s evolving regulatory and subsidy landscape.