Aker Horizons Completes Transaction with Mitsui as Strategic Partner and Consumer Renewable Energy Investor
Oslo, Norway, April 7, 2022 /PRNewswire/ — Aker Horizons ASA (“Aker Horizons”) today closed the transaction with Mitsui & Co., Ltd. (“Mitsui”) announced on March 24, 2022which enabled the Japanese trading and investment group to hold a 27.5% stake in Mainstream Renewable Power (“Mainstream”).
At March 24, 2022Mainstream Renewable Power, the global renewable energy company, announced that Mitsui has agreed to invest 575 million euros in Mainstream in the form of new ordinary shares, corresponding to a 27.5% stake. Mitsui joins Mainstream as a long-term strategic investor, alongside Aker Horizons, which owns 54.4% of Mainstream following the transaction.
“We are thrilled to launch this strategic partnership between Mitsui and Aker Horizons in Mainstream,” said Kristian Røkke, CEO of Aker Horizons and President of Mainstream. “We view Mainstream as an integral part of Aker Horizons’ plans to develop green industrial hubs globally and this partnership as a way to leverage the strengths of our respective businesses to accelerate growth.
Mitsui’s and Mainstream’s portfolios are focused and complementary, with both companies having significant assets in operation or under development in Latin America, Africa and Asia. Mitsui will leverage its global business network across all sectors and its extensive industrial capabilities, including the global competence of Independent Power Producers (IPPs) from 22 countries.
Mitsui is one of Japan’s leading general trading and investment companies, with approximately 45,000 employees in 63 countries. Mitsui’s business activities cover mineral and metal resources, iron and steel, infrastructure, chemicals and energy.
Mitsui’s global presence, deep experience in the power industry and global strategic alliances, coupled with Aker Horizons’ industrial capabilities, will have significant strategic implications for Mainstream’s transformation into a major renewable energy company, especially :
Accelerating Mainstream’s geographic expansion into high-growth markets
Expand its marketing routes, particularly in the Corporate Power Purchase Agreement (PPA) sector
Accelerate the increase of its capacity to build and operate on multi-gigawatt platforms
Increase its energy solutions capabilities, including battery storage and power exchange
Drive growth in green ammonia and green hydrogen production, rapidly advancing its Power to X offering
This transaction values Mainstream at approximately €2.1 billion on a 100 percent basis.
For more information, please contact:
Christian Yggeseth, Investor Relations, Tel: +47 915 10 000, [email protected]
Ivar SimensenCommunications, Tel. : +47 464 02 317, [email protected]
This announcement is for informational purposes only and does not contain or constitute an offer to sell or a solicitation of an offer to buy or subscribe for any securities mentioned in this announcement to any person in any jurisdiction. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Persons in possession of this announcement or such other information are responsible for informing themselves of and observing these restrictions.
Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and can be identified by words such as “believe”, “aim”, “expect”, “anticipate”, “intend”, ” estimate”, “will”, “may”, “continue”, “should” and similar expressions. The forward-looking statements contained in this release are based on various assumptions, many of which are, in turn, based on other assumptions. Although Aker Horizons believes that these assumptions were reasonable when made, these assumptions are inherently subject to important known and unknown risks, uncertainties, contingencies and other important factors that are difficult or impossible to predict and are beyond its control. control. These risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. Forward-looking statements speak only as of the date they are made and should not be relied upon as a guide to future performance. Aker Horizons and its affiliates expressly disclaim any obligation or undertaking to update, review or revise any forward-looking statements contained in this announcement, whether as a result of new information, future developments or otherwise. The information, opinions and forward-looking statements contained in this announcement speak only as of its date and are subject to change without notice.
This information is subject to section 5-12 of the Norwegian Securities Act.
This information was brought to you by Cision http://news.cision.com