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Mainstream and Aker Offshore Wind combination completed

By: Tom Russell 09/08/2022 Aker Horizons

Corporate General Windfarms

The transaction to combine Mainstream Renewable Power (Mainstream) and Aker Offshore Wind to create a renewable energy company with a 27 GW portfolio has closed.

As previously communicated on 12 July 2022, Aker Horizons entered into an agreement with Aker Mainstream Renewables, a holding company co-owned by Aker Horizons, Mitsui & Co., Ltd. and Irish minority shareholders, to integrate Aker Horizons' wholly-owned subsidiary Aker Offshore Wind into the Mainstream group. The transaction has now closed.

In parallel with the combination of the two companies, a number of Mainstream's minority shareholders participated in a further issuance of shares, raising approximately EUR 6 million in new capital.

Following closing of the transaction, Aker Horizons' ownership in Mainstream is approximately 58.4 percent, Mitsui & Co., Ltd. 24.9 percent, with remaining shares being held by Irish minority shareholders.

According to the original announcement, Mainstream’s offshore business will continue to develop existing project opportunities for fixed and floating wind in markets such as Norway, Sweden, Japan, South Korea, Vietnam, Ireland, the UK and the US, while exploring opportunities in new markets.

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Mainstream and Aker Offshore Wind combination completed

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