Ørsted’s €571 Million Acquisition of Brookfield Renewable Ireland

McCann FitzGerald advised Brookfield Renewable Ireland, a developer, owner, and operator of onshore wind farms, on the recent acquisition of it, subject to customary closing conditions, by Ørsted, the Danish multinational power company, represented by Arthur Cox.

Danish wind company Ørsted (CPH: ORSTED) announced the 100% equity interes acquisition in Brookfield Renewable Ireland and UK onshore wind business for €571 million.

The final price will be subject to customary adjustments.

The acquisition marks Ørsted’s entry into the European onshore market. BRI, headquartered in Co Cork, is a developer, owner, and operator of onshore wind farms.

It has a portfolio of 389 MW in operation and under construction, 149 MW in advanced development, and more than 1 GW of development pipeline in Ireland and the UK.

BRI’s existing management team will continue to run the business which will be integrated into Ørsted’s onshore business unit over time. The transaction is expected to close by the second quarter of this year.

Brookfield Renewable is one of the world’s largest owners, operators and developers of renewable power, with$52 billion of power assets under management.

Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants, and provides energy products to its customers.

The McCann FitzGerald team was led by Valerie Lawlor (Picture, Corporate and M&A), with support from a range of specialists across the firm.

The Arthur Cox team was led by Alex McLean (Energy) and included Michael Coyle, Ruth Donnellan and Ailbhe Ní Bhriain (Corporate and M&A), Danielle Conaghan and Laura Rafferty (Environmental), Deirdre Sheehan, Fiona Healy and Conor Keegan (Real Estate), Fiona Ridgway (Energy), Orlaith Kane (Tax), Olivia Mullooly and Aoife Coll (Technology and Innovation), Michael Shovlin (Pensions), Matt Dunn, Phil Cody, Niamh Sheerin and Peter Murphy (Finance), Cian Beecher and Ciara McDermott (Employment) and Richard Ryan and Simon Breen (Competition).
Involved fees earner: Cian Beecher – Arthur Cox; Simon Breen – Arthur Cox; Phil Cody – Arthur Cox; Aoife Coll – Arthur Cox; Danielle Conaghan – Arthur Cox; Michael Coyle – Arthur Cox; Ruth Donnellan – Arthur Cox; Matthew Dunn – Arthur Cox; Fiona Healy – Arthur Cox; Orlaith Kane – Arthur Cox; Conor Keegan – Arthur Cox; Ciara McDermott – Arthur Cox; Alex McLean – Arthur Cox; Olivia Mullooly – Arthur Cox; Peter Murphy – Arthur Cox; Ailbhe Ní Bhriain – Arthur Cox; Laura Rafferty – Arthur Cox; Fiona Ridgway – Arthur Cox; Richard Ryan – Arthur Cox; Deirdre Sheehan – Arthur Cox; Niamh Sheerin – Arthur Cox; Michael Shovlin – Arthur Cox; Valerie Lawlor – McCann FitzGerald;

Law Firms: Arthur Cox; McCann FitzGerald;

Clients: Brookfield Renewable Ireland; Ørsted;

Federica Tiefenthaler

Author: Federica Tiefenthaler