Aker Horizons to Acquire 75% Stake in Mainstream Renewable Power

Tuesday, January 19, 2021
Illustration - Credit: chrisrt/AdobeStock

Norwegian renewable energy investment firm Aker Horizons has agreed to take a 75% stake in global wind and solar company Mainstream Renewable Power, in a deal valuing Mainstream at about 1 bln euros, Mainstream said on Tuesday.

Mainstream said the investment would help accelerate its plans to bring 5.5 gigawatts of renewable projects to financial close by 2023 ahead of a planned IPO.

"It means we can widen our scope for entry into new markets and further deepen and expand our leadership position in existing ones, such as in Chile where we will soon be supplying the equivalent of one in seven Chilean homes with power," Mainstream’s founder and chairman, Dr Eddie O’Connor, said in a statement.

Mainstream has developed several wind and solar projects globally including Britain's Hornsea 2 offshore wind project before selling it in 2015.

Aker Horizons is owned by investment company Aker ASA. 

(Reporting By Susanna Twidale Editing by Robert Birsel)

Categories: Energy Mergers & Acquisitions Renewable Energy Industry News Offshore Wind Activity Renewables

Related Stories

JDR Wraps Up Type Test Qualification of Next-Gen Offshore Wind Cables

JDR Wraps Up Type Test Qualification of Next-Gen Offshore Wind Cables

Scotland Launches Offshore Wind Consultation

Scotland Launches Offshore Wind Consultation

Zenith Energy Gets On Board UK Gas and Hydrogen Storage Project

Zenith Energy Gets On Board UK Gas and Hydrogen Storage Project

Current News

Perenco Starts Construction of New Offshore Platform for Project in Congo

Norway Offers Exploration License for North Sea CO2 Storage to Equinor

TotalEnergies and Partners Sign PSC Extension for Deepwater Block off Angola

Reach Subsea’s New 24-Meter USV Ready for Commercial Deployment

Subscribe for OE Digital E‑News

Offshore Engineer Magazine