Mainstream Renewable Power
Tuesday, January 19, 2021
Irish headquartered renewable energy company, Mainstream Renewable Power, has signed an agreement with Norway-based renewable energy investment company, Aker Horizons, which will acquire a 75% equity stake in the company.
The Philip Lee M&A team led by John Given and Andreas McConnell was delighted to advise Mainstream on this transaction which, subject to regulatory approval, values Mainstream at €1bn including earn-out.
Mainstream said the investment would help accelerate its global expansion plans to bring 5.5 gigawatts of renewable projects to financial close by 2023 ahead of a planned IPO.
Under the terms of agreement, Mainstream will continue to operate under its existing brand, with founder Eddie O’Connor as Chairman and its current CEO and management team.
