EU clears Blackstone-led takeover of Eurowind Energy wind group

The European Commission decided on 25 August 2026 not to oppose the notified concentration involving Blackstone, Norlys, EWH and Eurowind Energy, declaring it compatible with the internal market. The decision, published in the Official Journal of the European Union (C series, C/2026/4643, of 28 August 2026), clears a major private-equity move into European wind energy.

The decision and its legal basis

The Commission’s clearance is based on Article 6(1)(b) of Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings, the EC Merger Regulation. Under that provision, the Commission concludes that the notified concentration does not raise serious doubts as to its compatibility with the internal market, allowing it to proceed without a phase II investigation.

The case is registered as Case M.12473 – BLACKSTONE / NORLYS / EWH / EUROWIND ENERGY, and the text carries EEA relevance, meaning the decision also applies within the European Economic Area.

The parties and the transaction

The concentration brings together a global investment manager and Nordic energy interests in a single wind-energy vehicle:

• Blackstone, the US private-equity group, acting as the acquiring investor;
• Norlys, the Danish energy and telecommunications cooperative;
• EWH, a partner entity in the transaction;
• Eurowind Energy, the Danish wind developer and operator at the centre of the deal.

The combination signals growing private-capital appetite for European renewable generation assets, with the transaction consolidating control over Eurowind Energy’s wind portfolio.

Publication and access to the full text

The full text of the decision is available only in English and will be made public after it is cleared of any business secrets it may contain. Once released, it will be accessible through two official channels:

• the merger section of the Commission’s Competition policy website, which allows searches by company name, case number, date and sector;
• the EUR-Lex website, under document number 32026M12473, the online point of access to European Union law.

Why it matters

The clearance removes a regulatory obstacle to one of the more significant private-equity entries into European wind energy in recent years, at a time when the EU is seeking to accelerate renewable deployment. For market participants, the decision confirms that such consolidation can pass merger scrutiny where competition concerns are not substantiated, while the eventual publication of the full decision will give operators and competitors a clearer view of the Commission’s reasoning.

Source: Official Journal of the European Union, C series, C/2026/4643, 28 August 2026, notices section (official reference: C/2026/4643, Case M.12473).