Global wind and solar company, Mainstream Renewable Power, has signed an agreement with the renewable energy investment company Aker Horizons (a wholly-owned subsidiary of Aker ASA) which will take a 75% equity stake in the company, subject to regulatory approval.
The deal values Mainstream at EUR1 billion (including a potential earn-out of up to EUR 100 million in 2023 and subject to customary adjustments) which represents a significant return for shareholders of up to 5.5 times investment. The agreement paves the way for a rapid acceleration of Mainstream’s global expansion plans to bring 5.5 Gigawatts (GW) of wind and solar assets to financial close by 2023.
