Mitsui invests US$633m in Aker's Mainstream Renewable

Mitsui & Co has agreed to acquire a 27.5% stake in Aker Horizons subsidiary Mainstream Renewable Power for a EUR575 million (US$633 million) consideration.

Mitsui aims to support Mainstream Renewable Power’s growth alongside Aker Horizons, which will hold a 54.4% stake in Mainstream once the deal is completed. Aker and Mitsui intend to extend their collaboration beyond renewable energy and focus on electricity trading, energy management and battery projects.

The deal is expected to close in April this year.