2021 02 March

DFDL Vietnam Assists Aker Horizons on its Partial Acquisition of Mainstream

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DFDL recently assisted Aker Horizons AS (“Aker Horizons”), a leading Norwegian planet-positive investment company, on its 75% acquisition of Mainstream Renewable Power (“Mainstream”), a leading Irish independent renewable energy company in the onshore/offshore wind and solar power sector with operations in Europe, Africa and Southeast Asia.

This transaction raises the current equity of Mainstream to EUR 900 million and gives Aker Horizons a portfolio of operating or under construction projects of approximately 1.4 GW, a project development pipeline of around 10 GW and a further 10 GW of identified future project opportunities. Aker Horizons’ ambition is to develop companies holding a total generating capacity of 10 GW and with the ability to remove the equivalent of 25 million tonnes of CO2 per year by 2025. Adding Mainstream to its portfolio allows Aker Horizons to position itself globally in renewable energy markets and this acquisition marks a significant stride towards realizing its planet-positive ambitions.

Slaughter and May acted as the leading counsel for this transaction. DFDL Vietnam’s team was led by Partners Jerome Buzenet and Phong Anh Hoang along with Dave Seibert (Deputy Head of Energy, Mining and Infrastructure Practice). DFDL assisted Aker Horizons Vietnamese legal issues related to offshore wind development throughout the transaction.

Reuters article: https://www.reuters.com/article/aker-mainstream-renewables-idUSL1N2JU0HK

 

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