Mainstream Renewable Power signs EUR1 billion equity investment deal with Aker Horizons to deliver 5.5 GW global build-out programme by 2023 - Seite 2

Commenting on the deal, Mainstream's Group Chief Executive Officer, Mary Quaney said:

"We are delighted to have such a highly respected business as Aker Horizons on board, enabling Mainstream to materially accelerate its growth plans to deliver a global portfolio of wind and solar assets. We plan to bring 5.5 GW of renewable assets to financial close globally by 2023, which sets us firmly on track to becoming one of the world's first pure-play renewable energy majors."  

Mainstream's founder and Chairman Dr Eddie O'Connor said:

"This partnership is the crucial next step in the vision we set out for Mainstream in 2008 to lead the global transition to renewable energy and rid the world of CO2 emissions. 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 from our wind and solar facilities. Critically, Aker Horizons shares our vision, mission and values, making it the right partner for Mainstream. Together with such an exceptional partner we will strengthen our position as a leader in the global energy transition during this critical decade."

Kristian Røkke, Chief Executive Officer of Aker Horizons, said: 

"We are thrilled to partner with Mainstream as we accelerate our journey of what we call planet-positive investing. Mainstream's role as a pioneer in renewables and its strong entrepreneurial culture is a good fit as we carve out our path forward in the energy transition. Through the acquisition of Mainstream, Aker Horizons will gain a platform to drive forward its plans in renewable energy and position itself in a growing market for hybrid projects."

Rothschild & Co acted as financial adviser to Mainstream on the Transaction and Linklaters, Byrne Wallace and Philip Lee acted as legal advisors on the Transaction.

About Mainstream Renewable Power

Mainstream Renewable Power is the world's only independent developer of utility-scale wind and solar power assets with a global footprint. The company is focused on expanding its current development pipeline of ~10 GW of wind and solar assets across Latin America, Africa, Asia Pacific as well as the global offshore wind sector.