Key Takeaways
- • Blackstone Infrastructure completes investment in Eurowind Energy with up to €2 billion ($2.34 billion) commitment, acquiring an initial 24.7% ownership stake as co-owner alongside founder-led management and energy group Norlys.
- • Eurowind Energy operates a vertically integrated renewable energy platform across 16 European countries with approximately 1.6 GW of installed capacity, spanning onshore wind, solar, battery storage, and biogas projects.
- • Capital deployment targets acceleration of Eurowind's development pipeline to address anticipated European power demand growth exceeding 3% annually through 2040, driven by electrification, AI-driven consumption, reindustrialization, and energy security imperatives.
- • Blackstone positions the investment as strategic support for Europe's energy infrastructure build-out, leveraging two decades of management expertise under CEO Jens Rasmussen to scale clean energy deployment across the continent.
- • Transaction advised by Barclays, Nomura Greentech, and Santander on M&A; Latham & Watkins and HortenDahl provided legal counsel to Blackstone, with Kromann Reumert representing Eurowind Energy.
Summary
Blackstone Infrastructure has completed its investment in Eurowind Energy, a Denmark-based renewable energy developer, with a commitment of up to €2 billion ($2.34 billion). The transaction grants Blackstone an initial 24.7% ownership stake in the company, establishing it as a co-owner alongside the company's founders—CEO Jens Rasmussen, Søren Rasmussen, and Jakob Kortbæk—as well as energy and telecommunications group Norlys, which collectively retain majority control.
Eurowind Energy operates as a pan-European renewable energy platform with operations spanning 16 countries and approximately 1.6 GW of installed capacity. The company develops, constructs, and operates a diversified asset base including onshore wind farms, solar installations, battery storage systems, and biogas facilities. This vertically integrated model positions Eurowind as a significant independent power producer capable of managing the full project lifecycle across multiple renewable technologies and geographies.
The Blackstone capital infusion is earmarked to accelerate Eurowind's development pipeline as European electricity demand enters a structural growth phase. Market drivers cited include electrification of transport and heating, artificial intelligence-driven power consumption increases, industrial reindustrialization, and energy security considerations. These dynamics are expected to sustain annual European power demand growth exceeding 3% through 2040, creating substantial deployment opportunities for renewable capacity.
Adam Kuhnley, Co-Head of European Investments at Blackstone Infrastructure, emphasized the strategic rationale: "Significant capital will be required to meet European energy demand in the coming years, and Blackstone is well-positioned to support and accelerate Europe's energy infrastructure build-out. Over the past two decades, Jens Rasmussen and the management team have built an outstanding, vertically integrated renewables platform, and we are excited to partner with them and Norlys to accelerate Eurowind's long-term clean energy deployment across Europe."
The transaction was supported by a substantial advisor network. Barclays, Nomura Greentech, and Santander provided M&A advisory services to Blackstone, while Latham & Watkins and HortenDahl delivered legal counsel to the infrastructure investor. Kromann Reumert represented Eurowind Energy in the transaction. The completion of this investment signals Blackstone's deepened commitment to European renewable energy infrastructure at a time of accelerating energy transition and grid modernization across the continent.
Eurowind Energy operates as a pan-European renewable energy platform with operations spanning 16 countries and approximately 1.6 GW of installed capacity. The company develops, constructs, and operates a diversified asset base including onshore wind farms, solar installations, battery storage systems, and biogas facilities. This vertically integrated model positions Eurowind as a significant independent power producer capable of managing the full project lifecycle across multiple renewable technologies and geographies.
The Blackstone capital infusion is earmarked to accelerate Eurowind's development pipeline as European electricity demand enters a structural growth phase. Market drivers cited include electrification of transport and heating, artificial intelligence-driven power consumption increases, industrial reindustrialization, and energy security considerations. These dynamics are expected to sustain annual European power demand growth exceeding 3% through 2040, creating substantial deployment opportunities for renewable capacity.
Adam Kuhnley, Co-Head of European Investments at Blackstone Infrastructure, emphasized the strategic rationale: "Significant capital will be required to meet European energy demand in the coming years, and Blackstone is well-positioned to support and accelerate Europe's energy infrastructure build-out. Over the past two decades, Jens Rasmussen and the management team have built an outstanding, vertically integrated renewables platform, and we are excited to partner with them and Norlys to accelerate Eurowind's long-term clean energy deployment across Europe."
The transaction was supported by a substantial advisor network. Barclays, Nomura Greentech, and Santander provided M&A advisory services to Blackstone, while Latham & Watkins and HortenDahl delivered legal counsel to the infrastructure investor. Kromann Reumert represented Eurowind Energy in the transaction. The completion of this investment signals Blackstone's deepened commitment to European renewable energy infrastructure at a time of accelerating energy transition and grid modernization across the continent.
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