Mitsui invests US$ 632m in Mainstream Renewable Power as it eyes IPP synergies

• Japanese investment company Mitsui has spent EUR575 million (US$ 631.6 million) in renewables designer Mainstream Renewable Power, bringing its valuation to EUR2.1 billion after the transaction.

Mitsui will certainly acquire 27.5% of equity stock from Mainstream while Aker Horizons, the investment firm that acquired 75% of stakes in Mainstream last year, will certainly possess 54.4% after the transaction.

Mitsui's global network in the power market will allow Mainstream to keep expanding its global portfolio, with the renewables programmer raising its financial investments in battery storage space in addition to projects in green ammonia and also green hydrogen. It will certainly also concentrate on boosting its company power acquisition arrangements (PPAs).

Kristian Røkke, CEO of Aker Horizons and chairman of Mainstream, said: "Mitsui is the perfect partner for Mainstream to speed up the company's development to become a renewable resource significant."

The three business are continuing to gear Mainstream towards an initial public offering (IPO).

Thus far, Mainstream has actually supplied 6.5 GW of solar as well as wind projects and also has an existing pipe of 16.6 GW, with an additional 8GW of recognized chances.

Moreover, Mainstream raised US$ 100 million in November 2021 to seek a multi-gigawatt pipe across Latin America, Africa as well as Asia-Pacific.

In July 2021, Mainstream started advancement of its 1GW Nazca Renovables platform in Chile with a mix of solar and wind farms.