The investment will support Eurowind Energy’s goal to become a pan-European IPP with a target to develop 1.5GW of new solar PV, wind and energy storage capacity per year through 2030.

Jens Rasmussen, CEO, co-founder and co-owner of Eurowind Energy, added that the company expects to construct nearly four to five times as much new capacity every year compared with 2025.

At the end of last year, the company had 1.5GW of operational renewables assets, with a further 1.3GW in construction in its own portfolio and a development pipeline of 56GW, of which 14.5GW is solar PV and 15.8GW is energy storage.

“Closing this transaction marks an important new chapter for Eurowind Energy. We have built a strong European platform over the past 20 years, and with Blackstone as a long-term partner, we now have the financial strength to significantly increase the number of renewable energy projects we develop, build and own, thereby contributing to the expansion of renewable energy capacity in Europe,” said Gert Vinther Jørgensen, chair of the board of Eurowind Energy.

Jørgensen is also the group CEO of Danish energy and telecommunications cooperative Norlys, which owns a 37.65% ownership interest in Eurowind Energy.

Blackstone’s stake acquisition of Eurowind Energy comes only days after the Danish IPP completed the acquisition of German renewables company EnBW’s Swedish renewables platform. This acquisition marked a significant expansion into the renewables market in Sweden.

Moreover, Blackstone’s investment in Eurowind Energy comes at a time when important European renewables companies have had financial troubles, such as German developer Enerparc’s recent filing for insolvency .

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