Investment company Aker Horizons plans to merge its offshore wind and hydrogen units into its parent company to “strengthen” its renewables development capabilities.
Aker plans to combine Aker Offshore Wind with its renewables development unit Mainstream Renewable Power, a move it said would strengthen Mainstream’s position in the market. It will facilitate the financing of offshore wind projects and accelerate Mainstream’s global reach in that market, Aker said.
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Meanwhile Aker Clean Hydrogen will also be merged into the parent company to expand opportunities in the hydrogen industry as well as other industries reliant on green hydrogen.
The merging of both Aker Clean Hydrogen and Aker Offshore Wind into Aker Horizons is set to complete in June 2022.
Last week, Aker Horizons agreed to sell its remaining shares in Norwegian polysilicon producer REC Silicon to Hanwha Solutions for US$160 million.
In addition to that, Japanese investment firm Mitsui invested US$631 million in Mainstream Renewable Power and acquired 27.5% of its equity stock.