Aker Solutions has acquired Rainpower and Unitech Power Systems to enhance its renewable energy offerings, reflecting its commitment to sustainable solutions and positioning within the growing energy market.

Information on the Target

Aker Solutions is a prominent provider of integrated solutions, products, and services aimed at the global energy sector. The company facilitates low-carbon oil and gas production while developing renewable energy solutions to support future energy demands. Aker Solutions has approximately 15,000 employees operating in more than 20 countries, underscoring its international reach and commitment to innovation in energy production.

In the first quarter of 2022, Aker Solutions reported significant growth, with revenues increasing to NOK 8.3 billion, up from NOK 6.5 billion in the same period the previous year. This growth is attributed to the successful execution of its strategy, which includes the strategic acquisition of key companies such as Rainpower, a leading hydropower technology firm, and Unitech Power Systems, enhancing its renewable offerings.

Industry Overview in Norway

The energy industry in Norway is characterized by its focus on sustainability and innovation, particularly in the areas of oil and gas and renewables. As a leading player in the energy sector, Norway boasts abundant natural resources, including