Aker Horizons has acquired a 75% stake in Mainstream Renewable Power to expand its footprint in the renewable energy market, capitalizing on Ireland's growing demand for sustainable energy solutions.

Information on the Target

Aker Horizons has acquired a 75% stake in Mainstream Renewable Power, a prominent international renewable energy development platform based in Ireland. Founded in 2008, Mainstream boasts a significant presence in markets such as Chile, South Africa, and Vietnam, along with developing assets in regions including the Philippines, Australia, and Colombia. The company is well-regarded for its successful track record in offshore wind development in the UK, supported by a robust pipeline of projects totaling 11 GW, with 1.4 GW already in operation or under construction.

This acquisition has been valued at an upfront equity figure of €900 million, with additional potential payments of up to €100 million tied to performance-based earnouts. The agreement also includes Aker Horizons obtaining a 50% stake in the Supernode superconducting business, enhancing its renewable energy portfolio.

Industry Overview in Ireland

The renewable energy sector in Ireland is experiencing rapid growth, bolstered by government initiatives and increasing public awareness regarding the importance of sustainable energy solutions. The Irish government has establishe