Danish offshore wind developer Ørsted (CPH:ORSTED) has reached an agreement to acquire wind power company Ostwind AG, which develops and builds onshore wind and solar farms in Germany and France, with assets of around 1.7 GW.
According to the agreement, Ørsted will take full ownership of Ostwind Erneuerbare Energien GmbH, Ostwindpark Rotmainquelle GmbH & Co KG, Ostwind International SAS and Ostwind Engineering SAS.
Headquartered in Germany and France, Ostwind has been developing wind power projects since 1992 and has completed more than 1 GW of projects in its two domestic markets. Currently, its portfolio includes 152 MW of power plants under construction and under construction, about 526 MW of advanced development projects, and a pipeline of additional development totaling 1 gigawatt, mostly wind power.
The acquisition is in line with Ørsted's strategy to expand across Europe and supports its goal of increasing global onshore capacity to 17.5 GW by 2030 from the current 4.8 GW, excluding Ørsted's wind portfolio.
