Latest news with #MainstreamRenewablePower
Yahoo
22-04-2025
- Business
- Yahoo
Mainstream Renewable Power sells 675 MW Colombian portfolio to Celsia
FORNEBU, Norway, April 22, 2025 /PRNewswire/ -- Mainstream Renewable Power ("Mainstream"), the pureplay global wind and solar company majority-owned by Aker Horizons ASA, announced that it has sold its 675 MW portfolio of wind and solar assets under development in Colombia to Celsia, a local energy company, part of the Argos Group. The divestment marks Mainstream's exit from the Colombian market. The assets, which Mainstream has been developing since 2019, comprise three solar projects and two wind projects; the 100 MW Andromeda solar farm, the 175 MW Aries solar farm, the 100 MW Pollux solar farm as well as the 150 MW Neptuno and 150 MW Sirius wind farms. The transaction aligns with the company's updated and more focused strategy, concentrating on developing its pipeline of projects primarily in three core markets where it sees the greatest potential for value creation – South Africa, Australia, and the Philippines – and creating value through strong project execution, a lean cost base and capital efficiency, including capital recycling. For further information, please contact:Jonas Gamre, Investor Relations, tel: +47 97 11 82 92,email: Mats Ektvedt, Media, tel: +47 41 42 33 28,email: About Aker Horizons Aker Horizons develops green energy and green industry to accelerate the transition to Net Zero. The company is active in renewable energy, carbon capture and sustainable industrial assets. As part of the Aker group, Aker Horizons applies industrial, technological and capital markets expertise with a planet-positive purpose to drive decarbonization globally. Aker Horizons is listed on the Oslo Stock Exchange and headquartered in Fornebu, Norway. Across its portfolio, the company is present on five continents. About Mainstream Renewable Power Mainstream Renewable Power is a leading pure-play renewable energy company with wind and solar assets across Europe, Latin America, Africa, and Asia-Pacific. Mainstream is one of the most successful developers of gigawatt-scale renewables platforms, across onshore wind, offshore wind, and solar power generation. The company has successfully delivered 6.6 GW of wind and solar generation assets to financial close-ready and has a global project portfolio of 22.7 GW. This information was brought to you by Cision View original content:
Yahoo
03-04-2025
- Business
- Yahoo
New funding arrangements for Mainstream finalized
FORNEBU, Norway, April 3, 2025 /PRNewswire/ -- Aker Horizons ASA ("Aker Horizons") has agreed on new funding arrangements for Mainstream Renewable Power ("Mainstream") with DNB ASA ("DNB") and co-shareholder Mitsui & Co., Ltd. ("Mitsui"). The new funding will enable Mainstream to deliver on its updated and more focused strategy, concentrating on developing its pipeline of projects primarily in three core markets where it sees the greatest potential for value creation – South Africa, Australia, and the Philippines – and creating value through strong project execution, a lean cost base and capital efficiency. In 2023, Mainstream secured a corporate facility of up to USD 220 million with DNB, supported by shareholders. Aker Horizons' share of the sponsor commitment is 58.4% of the maximum facility size, equivalent to USD 129 million. This amount will be provided to Mainstream as a shareholder loan, disbursed in phases: USD 75 million will be provided in April 2025, while the remaining USD 53 million will initially be provided through an extended letter of credit facility expected to be converted to shareholder loans in 2025 and 2026. Additionally, new funding for Mainstream has been agreed upon in the form of a shareholder loan facility of up to EUR 64 million provided pro-rata 70% by Aker Horizons and 30% by Mitsui, along with a letter of credit facility with DNB of up to EUR 64 million, also backed pro-rata by Aker Horizons and Mitsui. Both facilities may be drawn until maturity at year-end 2026, with drawdowns contingent on reaching agreed milestones under Mainstream's updated strategy. For further information, please contact:Jonas Gamre, Investor Relations, tel: +47 97 11 82 92,email: Ektvedt, Media, tel: +47 41 42 33 28,email: About Aker Horizons Aker Horizons develops green energy and green industry to accelerate the transition to Net Zero. The company is active in renewable energy, carbon capture and sustainable industrial assets. As part of the Aker group, Aker Horizons applies industrial, technological and capital markets expertise with a planet-positive purpose to drive decarbonization globally. Aker Horizons is listed on the Oslo Stock Exchange and headquartered in Fornebu, Norway. Across its portfolio, the company is present on five continents. About Mainstream Renewable Power Mainstream Renewable Power is a leading pure-play renewable energy company with wind and solar assets across Europe, Latin America, Africa, and Asia-Pacific. Mainstream is one of the most successful developers of gigawatt-scale renewables platforms, across onshore wind, offshore wind, and solar power generation. The company has successfully delivered 6.6 GW of wind and solar generation assets to financial close-ready and has a global project portfolio of 22.7 GW. This information was brought to you by Cision View original content: Sign in to access your portfolio
