Blackstone Infrastructure has entered into a definitive agreement to invest up to €2 billion in Eurowind Energy, a pan-European renewables developer and independent power producer headquartered in Hobro, Denmark. The investment will accelerate Eurowind’s development activities as European power demand enters an inflection point driven by electrification, AI, re-industrialization, and energy security needs, with annual demand growth expected to exceed 3% through 2040. The transaction is expected to close before the end of 2026, subject to customary conditions.
Founded in 2006 by CEO Jens Rasmussen, Søren Rasmussen, and Jakob Kortbæk, Eurowind is jointly owned with Norlys, Denmark’s largest integrated energy and telecoms group. The company operates across onshore wind, solar, battery storage, and biogas solutions in sixteen European markets, supported by approximately 700 employees. CEO Jens Rasmussen will continue to lead the company and remain invested alongside Norlys following the transaction. Blackstone’s capital is expected to allow Eurowind to install three to four times more solar, wind, and battery capacity compared to its current pace.
Blackstone has been active in Europe for over 25 years with investments across $400 billion in regional assets and sees the opportunity to deploy capital in over $500 billion of European assets by 2035. The firm’s renewables track record includes Invenergy, the largest independent renewable power generation company in the United States, and a joint venture partnership with NextEra Energy.
SUPPORT:
Barclays, Nomura Greentech, and Santander acted as M&A advisors to Blackstone. Latham & Watkins and HortenDahl acted as legal advisors to Blackstone. ABG Sundal Collier acted as M&A advisor to Norlys and EWE Holding. Kromann Reumert acted as legal advisor to Eurowind Energy. Accura acted as legal advisor to Norlys.
KEY QUOTES:
“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.”
Adam Kuhnley, Co-Head of European Investments, Blackstone Infrastructure
“Blackstone brings a long-term perspective with perpetual capital and believes in Eurowind Energy’s strategy to become a leading independent power producer in Europe. The investment will allow us to accelerate the pace of expansion and install three to four times more solar and wind energy as well as batteries versus our current pace.”
Jens Rasmussen, Chief Executive Officer, Eurowind Energy
“With Blackstone as a long-term investor, Eurowind gains the necessary financial strength to contribute to that development and take the company into its next phase.”
Gert Vinther Jørgensen, Chairman, Eurowind Energy and Group CEO, Norlys
