Aker Horizons AS
Aker Horizons AS
11/29/2021 | Press release | Distributed by Public on 11/29/2021 01:15
Mainstream Renewable Power Raises EUR 90 million to Accelerate New Market Entries and Build-Out of Gigawatt-Scale Renewable Assets
Tid29.11.2021, 07:00:05
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Mainstream Renewable Power Raises EUR 90 million to Accelerate New Market Entries and Build-Out of Gigawatt-Scale Renewable Assets
Mainstream Renewable Power has raised EUR 90 million in additional equity
funding to accelerate new market entries and the build-out of gigawatt-scale
wind and solar assets across Latin America, Africa and the Asia Pacific region.
The capital increase raised EUR 90 million from Mainstream's current shareholder
base, including Aker Horizons, which maintained its 75 percent stake in the
company. Demand from Mainstream's Irish investor base was strong, resulting in
an oversubscribed transaction.
"Today's announcement of an additional EUR 90 million of funding means that
Mainstream can accelerate its role in tackling climate change across the globe,"
said Mary Quaney, Chief Executive Officer of Mainstream. "This funding will help
us deliver on the major project milestones we've announced in recent months,
across South Africa, Vietnam and Chile, and strengthen our global growth
trajectory as we continue to expand our presence in existing markets as well as
enter new markets in the months."
The funding round will help accelerate the company's growth, extend its
footprint and support its ambitions of becoming a global Renewable Energy Major.
Mainstream has secured several strategic wins in recent months, including
winning preferred bidder status of projects with a combined capacity of 1.27 GW
in South Africa, launching the 1 GW Nazca Renovables platform in Chile and
securing an investment decision from the Provincial Government of Soc Trang
relating to the 1.4 GW Phu Cuong Soc Trang offshore wind project in Vietnam.
Mainstream is also currently in the process of constructing the 1.37 GW Andes
Renovables platform in Chile, on track to complete construction in 2021-23.
ENDS
For further information, please contact:
Ivar Simensen, Communications, Tel: +47 46 40 23 17,
[email protected]
Christian Yggeseth, Investor Relations, Tel: +47 915 10 000,
[email protected]
Emmet Curley, Head of Communications & Positioning, Tel P: +353 86 2411
690, [email protected]
About Mainstream
Mainstream Renewable Power is a leading pure-play renewable energy company with
a global footprint. The company is focused on expanding its high-quality
pipeline of more than 16.2 Gigawatts (GW) of wind and solar assets across Latin
America, Africa, Asia Pacific as well as the global offshore wind sector. In
2021, Aker Horizons acquired a 75 percent equity stake in the company, enabling
Mainstream to accelerate its global expansion
plan. www.mainstreamrp.com (https://nam12.safelinks.protection.outlook.com/?url=
http%3A%2F%2Fwww.mainstreamrp.com%2F&data=04%7C01%7Cstefano.berra%40iongroup.com%
7C290a08077fd6482801da08d95d95ccd1%7C768fe7d4ebee41a79851d5825ecdd396%7C0%7C0%7C6
37643720242456303%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJ
BTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=Ijtt3Q%2BoxAz7jW4vl98jl88Qgx%2BhH2ACfIl6
wQ5piDQ%3D&reserved=0)
About Aker Horizons
Aker Horizons ASA is a planet-positive investment company dedicated to
developing companies within renewable energy and technologies that reduce
emissions or promote sustainable living. The company is listed on the Oslo Stock
Exchange and majority-owned by Aker ASA. Aker Horizons' investment portfolio
includes stakes in Aker Carbon Capture, Aker Clean Hydrogen, Aker Offshore Wind
and Mainstream Renewable Power.
funding to accelerate new market entries and the build-out of gigawatt-scale
wind and solar assets across Latin America, Africa and the Asia Pacific region.
The capital increase raised EUR 90 million from Mainstream's current shareholder
base, including Aker Horizons, which maintained its 75 percent stake in the
company. Demand from Mainstream's Irish investor base was strong, resulting in
an oversubscribed transaction.
"Today's announcement of an additional EUR 90 million of funding means that
Mainstream can accelerate its role in tackling climate change across the globe,"
said Mary Quaney, Chief Executive Officer of Mainstream. "This funding will help
us deliver on the major project milestones we've announced in recent months,
across South Africa, Vietnam and Chile, and strengthen our global growth
trajectory as we continue to expand our presence in existing markets as well as
enter new markets in the months."
The funding round will help accelerate the company's growth, extend its
footprint and support its ambitions of becoming a global Renewable Energy Major.
Mainstream has secured several strategic wins in recent months, including
winning preferred bidder status of projects with a combined capacity of 1.27 GW
in South Africa, launching the 1 GW Nazca Renovables platform in Chile and
securing an investment decision from the Provincial Government of Soc Trang
relating to the 1.4 GW Phu Cuong Soc Trang offshore wind project in Vietnam.
Mainstream is also currently in the process of constructing the 1.37 GW Andes
Renovables platform in Chile, on track to complete construction in 2021-23.
ENDS
For further information, please contact:
Ivar Simensen, Communications, Tel: +47 46 40 23 17,
[email protected]
Christian Yggeseth, Investor Relations, Tel: +47 915 10 000,
[email protected]
Emmet Curley, Head of Communications & Positioning, Tel P: +353 86 2411
690, [email protected]
About Mainstream
Mainstream Renewable Power is a leading pure-play renewable energy company with
a global footprint. The company is focused on expanding its high-quality
pipeline of more than 16.2 Gigawatts (GW) of wind and solar assets across Latin
America, Africa, Asia Pacific as well as the global offshore wind sector. In
2021, Aker Horizons acquired a 75 percent equity stake in the company, enabling
Mainstream to accelerate its global expansion
plan. www.mainstreamrp.com (https://nam12.safelinks.protection.outlook.com/?url=
http%3A%2F%2Fwww.mainstreamrp.com%2F&data=04%7C01%7Cstefano.berra%40iongroup.com%
7C290a08077fd6482801da08d95d95ccd1%7C768fe7d4ebee41a79851d5825ecdd396%7C0%7C0%7C6
37643720242456303%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJ
BTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C1000&sdata=Ijtt3Q%2BoxAz7jW4vl98jl88Qgx%2BhH2ACfIl6
wQ5piDQ%3D&reserved=0)
About Aker Horizons
Aker Horizons ASA is a planet-positive investment company dedicated to
developing companies within renewable energy and technologies that reduce
emissions or promote sustainable living. The company is listed on the Oslo Stock
Exchange and majority-owned by Aker ASA. Aker Horizons' investment portfolio
includes stakes in Aker Carbon Capture, Aker Clean Hydrogen, Aker Offshore Wind
and Mainstream Renewable Power.