Aker Horizon closes acquisition of majority stakes in Mainstream Renewable Power

Aker Horizons ASA has finalized and closed the transaction to acquire Mainstream Renewable Power Ltd. Existing Mainstream shareholders have re-invested and retained 25 percent ownership in the company. As part of the transaction, Aker Horizons also acquired an interest in superconductor technology company SuperNode.

The transaction values the current equity of Mainstream at EUR 900 million (US$1.087 billion) on a 100 percent basis and gives Aker Horizons a portfolio of solar and wind projects in operation and under construction of about 1.4 GW and a project development pipeline of about 12.5 GW. The pipeline has increased by more than 1 GW since the acquisition was announced on January 19, 2021.

DNB Markets, a part of DNB Bank ASA, Nordea Bank Abp’s Norway branch, and Green Giraffe acted as financial advisers to Aker Horizons in the transaction. Advokatfirmaet BAHR and Slaughter & May acted as legal advisers in the transaction. Rothschild & Co acted as financial adviser to Mainstream on the transaction. Linklaters, ByrneWallace LLP, and Philip Lee acted as legal advisers on the transaction. Brewin Dolphin acted as nominee and shareholder representative.