Mainstream Renewable Power and Aker Offshore Wind’s stakeholders have decided to merge their companies to establish a new offshore wind company with a 27 GW portfolio. Aker Offshore Wind (AOW), a wholly owned subsidiary of Aker Horizons, will be merged into the Mainstream group on a prior agreement between Aker Horizons and Aker Mainstream Renewables.

The agreement is anticipated to be finalised early next month. Aker Horizons will hold almost 58.6 per cent of Mainstream after the transaction is completed. Mainstream’s offshore division will continue to explore current fixed and floating wind project opportunities in the UK, Norway, Sweden, Japan, South Korea, Vietnam, Ireland, and the US. 

In March 2022,  Mitsui & Co., Ltd. agreed to invest EUR €575 million in Mainstream in the form of new common shares. This corresponds to a 27.5 percent equity stake in the company, and would enable Mitsui to take a long-term active role in Mainstream’s growth.