Eurowind Energy, a Denmark-based renewable energy project developer, has entered into a definitive agreement with Blackstone Infrastructure for an investment of up to €2 billion ($2.34 billion).

The investment will give Blackstone an initial 24.7% ownership stake in Eurowind Energy. Blackstone will become a co-owner, while Eurowind Energy’s founders, including Chief Executive Officer Jens Rasmussen, Søren Rasmussen, and Jakob Kortbæk, along with energy and telecommunications group Norlys, will retain majority ownership.

Eurowind Energy develops, constructs, and operates renewable energy projects, including onshore wind, solar, battery storage, and biogas facilities. The company operates across 16 European countries and has a total installed capacity of approximately 1.6 GW.

The capital from Blackstone is intended to support Eurowind Energy’s development pipeline as electricity demand in Europe increases. The company cited electrification, artificial intelligence-driven demand, reindustrialization, and energy security needs as drivers of expected annual power demand growth of more than 3% through 2040.

Adam Kuhnley, Co-Head of European Investments, Blackstone Infrastructure, said: “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.”

Barclays, Nomura Greentech, and Santander were Blackstone’s mergers and acquisitions advisors for the transaction. Latham & Watkins and HortenDahl served as its legal advisors, while Kromann Reumert acted as legal advisors to Eurowind Energy.

The transaction is expected to close before the end of the year, subject to customary conditions.

According to Mercom’s Annual and Q4 2025 Solar Funding and M&A report, M&A activity was 17% higher YoY in 2025, with 96 corporate M&A transactions compared to 82 in 2024.

In April 2026, U.S.-based Headwater Energy, a utility-scale solar and energy storage development firm, completed the acquisition of Arena Renewables, a distributed generation solar and battery energy storage system developer.