-- A new European onshore renewables platform has been launched following the Apr. 30 completion of the 1.44 billion euros ($1.7 billion) Copenhagen Infrastructure Partners' acquisition of Orsted's European onshore business through the CI V flagship fund, CIP said in a statement on Thursday.
The business, formerly part of Orsted, has been rebranded as Perigus Energy and is now owned by CIP. The deal marks the formal separation of the asset base into a standalone company focused on onshore wind, solar, and battery storage development across Europe.
Headquartered in Cork, Ireland, the company employs more than 200 people across offices in Regensburg, Lauf, Potsdam, Essen, Hamburg, London, Edinburgh, and Madrid. It said its immediate focus is to expand its multi-gigawatt pipeline and bring additional renewable capacity online across Europe.
Perigus Energy will operate projects in Ireland, Germany, the United Kingdom, and Spain, with an installed and under-construction capacity of 826 megawatts. The portfolio currently supplies electricity equivalent to roughly 600,000 European homes and includes five additional projects under construction in Ireland and Germany.
The company said its existing contracts, commercial arrangements, and counterparties remain unchanged following the transaction. Its revenue base is supported by a mix of government-backed support schemes and corporate power purchase agreements.
Chief executive Kieran White said the business builds on long-standing operational roots in Irish and German renewable development.
"While our name is new, our people are experienced, and our mission the same," White said. "The high volatility in international energy markets demonstrates clearly Europe's need for secure, home-grown and green electricity."