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Aker Horizons — Regulatory Filings 2021
Oct 29, 2021
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Regulatory Filings
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Mainstream Renewable Power and Partners Awarded 1.27 GW of New Wind and Solar Projects in South Africa
Mainstream Renewable Power and Partners Awarded 1.27 GW of New Wind and Solar Projects in South Africa
Mainstream Renewable Power ("Mainstream"), the global wind and solar company
majority-owned by Aker Horizons, announces today that twelve of its projects
have won preferred bidder status in Round 5 of South Africa's Renewable Energy
Independent Power Producer Procurement Programme (REIPPPP).
The wind and solar projects have a total capacity of 1.27 GW and represent half
of the total allocation in the Round. Once fully operational, the projects will
produce approximately 4,500 Gigawatt hours (GWh) of green electricity annually,
the equivalent of displacing nearly 5 million tons of CO2 each year.
"We are very pleased to have secured such a significant win, underpinning our
strategy of building true scale across our global platforms and helping deliver
a just transition towards South Africa's clean energy and climate goals," said
Mary Quaney, CEO of Mainstream Renewable Power.
The win makes Mainstream the most successful company in the history of the South
African renewable energy procurement programme, with over 2.1 GW awarded to
date. This includes 850 MW of wind and solar generation assets that Mainstream
has already delivered into commercial operation across Rounds 1, 3 and 4 of the
REIPPPP.
The Mainstream-led consortium will deliver six onshore wind projects and six
solar PV projects. The consortium brings together a range of expertise, led by
Mainstream's entirely African team of over a hundred professionals.
Mainstream owns 100 percent of the projects. At financial close, ownership will
transfer to the equity consortium: Mainstream (25%) Globeleq (26%), Africa
Rainbow Energy & Power (23.25%), H1 Holdings (23.25%) and Community Trusts
(2.5%).
For further information, please contact:
Ivar Simensen, Communications, Tel: +47 46 40 23 17,
Christian Yggeseth, Investor Relations, Tel: +47 915 10 000,
Emmet Curley, Head of Communications & Positioning, Tel P: +353 86 2411
690, [email protected]
About Mainstream
Mainstream Renewable Power is a leading pure-play renewable energy company with
a global footprint. The company is focused on expanding its high-quality
pipeline of more than 16.2 Gigawatts (GW) of wind and solar assets across Latin
America, Africa, Asia Pacific as well as the global offshore wind sector. In May
2021, it closed an agreement for Aker Horizons to take a 75 percent equity stake
in the company, enabling Mainstream to accelerate its global expansion
plan. www.mainstreamrp.com (https://nam12.safelinks.protection.outlook.com/?url=
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About Aker Horizons
Aker Horizons ASA is a planet-positive investment company dedicated to
developing companies within renewable energy and other technologies that reduce
emissions or promote sustainable living. The company is listed on the Oslo Stock
Exchange and majority owned by Aker ASA. Aker Horizons investment portfolio
includes majority stakes in Aker Carbon Capture, Aker Clean Hydrogen, Aker
Offshore Wind and Mainstream Renewable Power.