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Mitsui invests $631 million in Aker's Mainstream Renewable

  • Mitsui invests $631 million in Aker's Mainstream Renewable





    Japanese trading house Mitsui has agreed to invest 575 million euros ($631 million) for a 27.5per cent stake in Mainstream Renewable Power, a company controlled by Norway's Aker Horizons, the companies said on Thursday.



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    The transaction, valuing Mainstream at 2.1 billion euros, leaves Aker Horizons' holding at 54.4per cent.



    "Mitsui, Aker Horizons and Mainstream will continue developing Mainstream towards an initial public offering," the three companies said in a joint statement.



    Mitsui's investment and global business network will help Mainstream to speed expansion of its portfolio of wind and solar energy in the Americas, Africa, Asia-Pacific and Europe, they added.



    Mainstream will also expand in battery storage, power trading, green ammonia and green hydrogen production, the companies said.

      March 24, 2022 1:07 AM PDT
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