#Norway #Aker Horizons #Fornebu #Mainstream Renewable #Celsia

Mainstream Renewable Power Divests 675 MW Portfolio to Celsia

In a significant move within the renewable energy sector, Mainstream Renewable Power, a company primarily focused on wind and solar initiatives, has announced the sale of its Colombian portfolio. This acquisition, amounting to 675 megawatts (MW), has been purchased by Celsia, a local energy solutions provider belonging to the Argos Group. This transaction marks Mainstream's strategic exit from the Colombian market and highlights the company's fresh approach to its operational focus.

Details of the Transaction

The sold portfolio features a diverse mix of renewable energy projects that Mainstream has been nurturing since 2019. It includes three solar projects and two wind projects:

• - Andromeda Solar Farm: A 100 MW facility
• - Aries Solar Farm: Notably larger at 175 MW
• - Pollux Solar Farm: Another significant 100 MW project
• - Neptuno Wind Farm: Delivering 150 MW
• - Sirius Wind Farm: Also at 150 MW

This robust collection of assets underscores Mainstream's commitment to developing renewable energies in diverse geographical areas, although it strategically shifts to focus on regions with perceived greater potential for growth.

Strategic Reorientation

The divestment aligns with Mainstream's updated business strategy aimed at enhancing its operational efficiencies and maximizing shareholder value. Company leaders have indicated a clear intention to concentrate efforts on three core markets: South Africa, Australia, and the Philippines. By narrowing its focus, Mainstream aims to foster deeper investment and stronger project execution in these areas. The firm is emphasizing capital recycling, a lean cost structure, and effective management to achieve these goals.

Mainstream has been recognized as a formidable player in the renewable energy landscape, particularly for its ability to develop gigawatt-scale renewable platforms spanning onshore wind, offshore wind, and solar power. They've successfully delivered 6.6 gigawatts (GW) of wind and solar generation assets to a point of financial closure, contributing to its expansive global project portfolio that stands at an impressive 22.7 GW.

Insights from Leadership

A spokesperson from Mainstream emphasized that by streamlining their portfolio and focusing on regions with maximum potential, they are aligning with global trends that demand rapid transition to sustainable energy. They noted, "Our recent strategy is designed to capitalize on the growth opportunities prevalent in markets where we can leverage our expertise and experience."

Celsia's acquisition signifies their robust entry into the renewable market in Colombia. As part of the Argos Group, Celsia is poised to enhance its renewable energy offerings significantly by integrating these projects into its portfolio, contributing to Colombia's broader ambition of increasing reliance on clean energy sources.

About Mainstream Renewable Power

Mainstream Renewable Power, majority-owned by Aker Horizons ASA, is a leader in developing pure-play renewable energy solutions. The company is committed to driving the transition to net-zero energy systems globally, engaging actively in wind and solar power development across continents including Europe, Latin America, Africa, and the Asia-Pacific region. Their bold step towards divestment in Colombia reflects an adaptive strategy in an evolving energy market, where agility and foresight are critical.

Mainstream's approach has drawn attention within the renewable sector, setting a precedent for how proactive adaptations can align with a rapidly changing market landscape, ensuring continued success and sustainability in their global operations.