Offshore wind giant Orsted made its long anticipated leap into European onshore renewables with an agreement to buy Brookfield Renewable Ireland (BRI), which develops wind farms on land in the UK and Ireland.

The deal gives the Cork, Ireland-based business an enterprise value of €571m ($680m), with the final price subject to customary adjustments, said a statement.

The UK and Ireland onshore wind arm of global developer Brookfield Renewable has an “attractive” portfolio of 389MW operating and under construction, 149MW in advanced development and a 1GW development pipeline.