A new chapter for European onshore renewables begins today with the launch of Perigus Energy, following the completion of Copenhagen Infrastructure Partners’ (CIP) acquisition of Ørsted’s European onshore business, through its fifth flagship fund, CI V. Formerly part of Ørsted, the business takes on a new name, identity and ambition as Perigus Energy.
Perigus Energy looks to support Europe’s energy security and transition by developing, building and operating onshore wind, solar and battery storage projects in Ireland, Germany, the United Kingdom and Spain. Today, its portfolio delivers clean, home-grown and reliable electricity to power the equivalent of circa 600,000 European homes, with five further projects currently under construction in Ireland and Germany.
Perigus Energy has a total operational and under-construction capacity of 826 MW, supported by a resilient commercial structure, combining government-backed supports schemes and corporate power purchase agreements (CPPAs). All existing contracts, partners and counterparties remain unaffected by the transaction.
Perigus Energy is built on decades of hands-on delivery experience across multiple markets and technologies. Its people and projects continue unaffected and with this strong foundation, now with the backing of CIP, the company’s immediate focus is to unlock the full potential of its multi-gigawatt, investment-ready pipeline and bring new renewable capacity in Europe.
Commenting on the news, Kunal Patel, Partner of CIP, said: “Today marks the completion of an important transaction for CI V and a major milestone for continued growth in European onshore renewables. Perigus Energy combines a proven team, an established operating portfolio and a promising multi-gigawatt pipeline across core European power markets.
We are proud to support Perigus Energy as it accelerates the delivery of clean, reliable and affordable power – strengthening Europe’s energy security and independence, while delivering strong, risk-adjusted returns to our investors.”
Kieran White, CEO of Perigus Energy, added: “Perigus Energy is a very exciting next chapter in a long running renewable success story which has evolved from the origins of an Irish farmer’s cooperative and a German family-run business. And so, while our name is new, our people are experienced, and our mission the same.
The high volatility in international energy markets demonstrates clearly Europe’s need for secure, home-grown and green electricity. With Copenhagen Infrastructure Partners on board, we will enhance our delivery capability across our multi-gigawatt investment-ready pipeline spanning onshore wind, solar and battery storage. Together, we look forward to advancing renewables to power a secure energy future with care for both society, nature and our people.“
Headquartered in Cork, Perigus Energy has over 200 people working on site and from offices in Regensburg, Lauf, Potsdam, Essen, Hamburg, London, Edinburgh and Madrid.
