Japan’s Mitsui Group has agreed to invest EUR 575 million in Mainstream Renewable Power for new common shares.
Mitsui & Co. Ltd, which is a part of Mitsui Group, will have a 27.5 percent equity stake in the global renewable energy company.
According to Mitsui, "it will take a long-term active role in the growth of Mainstream, alongside Aker Horizons, which will own 54.4 per cent of Mainstream following the transaction."
“We are delighted to participate in Mainstream jointly with Aker Horizons to boost growth and expansion of development and construction/operation activities of Mainstream, by leveraging our global business networks with customers across industries and its wide-ranged industrial capabilities, including deep expertise in the global power sector,” Kazumasa Nakai, Chief Operating Officer of Mitsui, was quoted in a report.
He expressed hope that the cooperation in Mainstream will boost the strategic partnership between the Aker group and Mitsui.
It is expected to take forward the renewable energy transition and greenhouse gas reduction in response to global climate change.
Mainstream has wind and solar generation assets across global markets including in Latin America, Africa, and Asia-Pacific.
”Mitsui is the perfect partner for Mainstream to accelerate the company’s growth to become a renewable energy major,” Kristian Røkke, Chief Executive of Aker Horizons and Chairman of Mainstream, was quoted in a report.