Aker Offshore Wind integrated into Mainstream Renewable Power

Norwegian developer Aker Offshore Wind has been fully integrated into Irish developer Mainstream Renewable Power.

Mainstream’s minority shareholders have also injected a further €6 million into the company through a share issue

The transaction to combine the two companies creates a renewables developer with a 27GW portfolio. This includes 10GW in a pre-development stage and 16.9GW in development, construction or operation – of which 7.49GW is onshore wind and 1.72GW is offshore wind.

A spokesman explained that the deal is designed to “pair Aker’s strong technical and engineering capabilities, and early mover position in floating offshore wind, with Mainstream’s proven project development methodology, execution track record and global presence”.

Mainstream is now majority owned by Aker Offshore Wind-owner Aker Horizons (58.4%). Japanese conglomerate Mitsui owns 24.9% of the  developer and Irish minority shareholders own the remainder.

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