Mitsui & Co. has closed a mainstream renewable power transaction with Aker Horizons, resulting in the Japanese trading and investment group owning a 27.5 percent stake in Mainstream Renewable Power.
Mainstream Renewable Power, a global renewable energy company, announced Mitsui agreed to invest €575 million ($627 million) in Mainstream in the form of new common shares, corresponding to a 27.5 percent equity stake. Mitsui joins as a long-term strategic investor in Mainstream, alongside Aker Horizons, which owns 54.4 percent of Mainstream following the transaction.
"We are excited to be off and running with this strategic partnership between Mitsui and Aker Horizons in Mainstream,” said Kristian Røkke, CEO at Aker Horizons and chairman at Mainstream. “We see Mainstream as an integral part of Aker Horizons' plans to develop green industrial hubs globally, and this partnership as a way to leverage our respective companies’ strengths to accelerate growth."