DUBLIN, Ireland — The transaction to combine Mainstream Renewable Power and Aker Offshore Wind "to create a stronger renewable energy company with a 27-GW portfolio" has closed, Mainstream announced Aug. 9.
As previously communicated on July 12, Aker Horizons entered into an agreement with Aker Mainstream Renewables, a holding company co-owned by Aker Horizons, Mitsui & Co. Ltd. and Irish minority shareholders, to integrate Aker Horizons’ wholly owned subsidiary Aker Offshore Wind into the Mainstream group. The transaction has now closed.
In parallel with the combination of the two companies, a number of Mainstream’s minority shareholders participated in a further issuance of shares, raising approximately EUR 6 million in new capital.
Following closing of the transaction, Aker Horizons' ownership in Mainstream is approximately 58.4%, Mitsui & Co. Ltd. 24.9%, with remaining shares being held by Irish minority shareholders.