Orsted is closing in on a deal to buy German onshore wind and solar developer Ostwind.

The Danish renewable giant said it is in “late-stage negotiations” over a potential 100% buyout with privately owned Ostwind and its shareholders, including founders Gisela Wendling-Lenz, Ulrich Lenz.

Active in Germany and France, Ostwind has developed and installed more than 1GW of wind and “numerous solar projects” since it was set up in 1992, according to its website.