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Company announcement No. 20/2021 Orsted Ørsted acquires Ireland and UK onshore wind power platform from Brookfield Renewable Today , Ørsted has entered into an agreement with Brookfield Renewable , a global owner and operator of renewable power assets , to acquire a 100 % equity interest in its existing Ireland and UK onshore wind business , Brookfield Renewable Ireland ( BRI ) . The agreement is based on an enterprise valuation of BRI of EUR 571 million as of 31 December 2020. The final price will be subject to customary adjustments . With the acquisition of BRI , Ørsted enters the European onshore market . BRI , headquartered in Cork , Ireland , is a developer , owner , and operator of onshore wind farms . BRI has an attractive portfolio of 389 MW in operation and under construction , 149 MW advanced development , and more than 1 GW of development pipeline in Ireland and the UK . Ørsted entered the onshore renewables business in 2018 with an initial focus on the US . Today , Ørsted's onshore business has reached a meaningful scale with an operating and in construction portfolio of 4 GW of wind and solar and a strong pipeline of further projects in development . The growth over the past year ranks the business among the five largest US constructors in terms of onshore capacity additions since 2017 . Building on the success of the US business , Ørsted has been evaluating opportunities to enter the onshore renewables business in Europe . Mads Nipper , Group President and CEO of Ørsted , says : " In the US , we've built a strong onshore business with 4 GW in operation and under construction . The European market for onshore wind power is expected to grow significantly in the coming years , and with the acquisition of BRI , we get a strong platform that expands our presence in onshore renewables to Europe , allowing us to continue our successful expansion of our onshore renewables business . " Declan Flanagan , CEO of Ørsted's Onshore business unit , says : " We're excited to acquire BRI , which has a strong strategic and operational fit to Ørsted combined with what we believe to be very complementary business cultures . We've learned that , like Ørsted , the BRI team is ambitious , prioritise safety and quality , and strive to be a good neighbour in the communities they operate in . Ørsted Kraftværksvej 53 Skærbæk DK - 7000 Fredericia www.orsted.com Company registration no . ( CVR no . ) 36 21 37 28 16 April 2021