The shareholders of Mainstream Renewable Power and Aker Offshore Wind have agreed to combine the companies to create an entity with a 27-GW portfolio of bottom-fixed offshore wind, floating wind, onshore wind and solar projects
Aker Horizons recently entered into an agreement with Aker Mainstream Renewables, a holding company co-owned by Aker Horizons, Mitsui & Co Ltd and minority shareholders, to integrate Aker Offshore Wind into the Mainstream group.
Aker Offshore Wind is a wholly-owned subsidiary of Aker Horizons. On completion of the transaction, Aker Horizons’ ownership in Mainstream will be approximately 58.6%.
Mainstream chief executive Mary Quaney said, “The strong industrial logic for combining Aker Offshore Wind and Mainstream includes complementary footprint and capabilities, increased scale, and improved access to financing.
Combining Aker Offshore Wind’s strong technical and engineering capabilities, and early mover position in floating offshore wind, with Mainstream’s proven project development methodology, execution record and global presence unlocks new opportunities worldwide.”
Aker Horizons chief executive and Mainstream chair Kristian Røkke said, “Consolidation of Aker Horizons’ interests in renewable energy will accelerate Mainstream’s transformation into a global renewable energy major with leading floating and fixed offshore wind capabilities.”
Tove Røskaft has been appointed head of offshore wind at Mainstream, reporting to Quaney. During her 25-year career at the Aker group, Røskaft has held a range of executive leadership positions in offshore products and operations as well as corporate management, most recently as chief operating officer of Aker Offshore Wind.
Mainstream’s offshore business will continue to develop 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.
Aker Mainstream Renewables will hold an extraordinary general meeting on 15 July 2022 to approve the transaction, which is expected to close in August 2022.
