Aker Horizons entered into an agreement with Aker Mainstream Renewables, a holding company co-owned by Aker Horizons, Mitsui & Co., Ltd., and Irish minority shareholders, to integrate Aker Offshore Wind into the Mainstream group. Aker Offshore Wind is a wholly owned subsidiary of Aker Horizons. On completion of the transaction, Aker Horizons’ ownership in Mainstream will be approximately 58.6 percent. The consolidation of Aker Horizons’ interests in renewable energy will accelerate Mainstream’s transformation into a global renewable energy major with leading floating and fixed offshore wind capabilities.
The floating wind market is projected to grow rapidly in coming years, as several countries have launched ambitious targets to develop gigawatts of wind energy, with about 70-80 percent of offshore wind resources located at water depths only suitable for floating foundations. Mainstream’s offshore business will continue to develop existing project opportunities for fixed and floating wind in markets such as Norway, Sweden, Japan, South Korea, Vietnam, Ireland, the UK and the US, while exploring opportunities in new markets.