Ørsted to acquire Ostwind for €689m.

Ørsted, a Danish multinational power company based in Fredericia, agreed to acquire Ostwind, a German developer, owner, and operator of onshore wind and solar PV projects in Germany and France, for €689m. "The acquisition of Ostwind is an important step for the strategic expansion of our Onshore business in Europe. The company has an impressive proven track record of developing high-quality projects as well as a strong cultural alignment with Ørsted, a talented team, and a local community presence – a rare combination that constitutes a strong platform from which we can create value. I’m truly excited about Ostwind becoming part of Ørsted and for our entrance into two important markets, one of which is already key for our offshore business. I expect significant synergies between our onshore and offshore businesses in Germany, both regarding offtake solutions for our customers and combined renewable power capacity for future renewable hydrogen production, and we truly look forward to welcoming the Ostwind team to Ørsted," Neil O’Donovan, Ørsted Onshore CEO.