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CIP Buys Ørsted EU Onshore Wind

Allen covers CIP’s €1.44 billion buyout of Ørsted’s European onshore wind, the new Perigus Energy name, and Vestas paying €506 million for its stake in the firm.

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In Denmark, there is an old expression. “What goes around comes around.” The founders of Copenhagen Infrastructure Partners — known in the industry simply as CIP — know exactly what that means.

Back in 2012, four executives were fired from DONG Energy, the Danish energy giant that would later rebrand itself as Ørsted. Their offense? Their paychecks were considered too large. So large that DONG Energy’s own CEO was forced out as well. Four men shown the door were. A year later, a woman joined them from that same company. The Danish press had a name for these five. They called them “the golden birds.”

With six billion Danish krone from the pension fund PensionDanmark, they launched what is now one of the world’s largest clean energy fund managers.

In 2020, turbine maker Vestas purchased a 25 percent stake in CIP. The deal included a performance-based earn-out arrangement. This week, the books revealed the size of that windfall.

The five partners have now collected a combined 1.8 billion Danish krone — roughly 240 million euros. Vestas expects to make one final payment of 71 million euros this year. Including interest, Vestas will have paid 506 million euros for its stake in CIP. Not a bad return for a group of people who were shown the door.

And. This week, CIP completed its acquisition of Ørsted’s European onshore wind business for 1.44 billion euros. They renamed it Perigus Energy. The new company holds 826 megawatts of wind and solar capacity, operating in Ireland, Germany, the United Kingdom, and Spain.

Let that circle close. The executives fired from DONG Energy — the company that became Ørsted — just bought Ørsted’s business.

Meanwhile, CIP’s annual report for 2025 tells the story of a company in transition. Profit for the year came in at 561 million Danish krone, down from 683 million the year before. The employee count fell by nearly a fifth, to 441 people. And yet, their CI Five fund closed this year at 12.3 billion euros — the largest greenfield renewable infrastructure fund ever raised. Looking ahead, CIP expects profit of 600 to 800 million Danish krone in 2026 as new fund closings take shape.

So the picture this week is this. The men and women once considered overpaid, at a company that no longer carries the same name, have built the world’s largest greenfield renewable energy fund. And they now own a piece of the legacy that fired them.

The golden birds are still flying.

And that is the wind energy news for the fourth of May, 2026. Join us for more on the Uptime Wind Energy Podcast.