#Norway #Oslo #Aker Horizons #Mainstream #Morten Henriksen

Mainstream Renewable Power Welcomes New CEO

Mainstream Renewable Power, a prominent player in the renewable energy sector, announced the appointment of Morten Henriksen as its new Group CEO, effective April 1, 2025. This significant change comes as the company aims to strengthen its position in the global energy market and implement its updated strategy focused on three key growth markets: South Africa, Australia, and the Philippines.

Morten Henriksen, who previously held the CEO position at Gassnova, Norway's state-owned enterprise for carbon capture and storage, brings extensive leadership experience in the energy industry. His background includes executive roles at various renowned companies, including Arendals Fossekompani and Statkraft, along with valuable board positions. Henriksen’s extensive expertise in the energy sector will be pivotal as Mainstream seeks to execute its strategy effectively.

The transition comes as the current CEO, Mary Quaney, prepares to step down later in 2025 after a notable five-year tenure. She will continue to guide the company in a Senior Advisor role during this period. Quaney has been instrumental in navigating Mainstream through a challenging period of transformation within the energy industry, and her leadership has been marked by a strong commitment to integrity and resilience.

One of the key highlights of this new era for Mainstream includes the relocation of its headquarters from Dublin to Oslo. This move aims to reduce operational costs by a substantial 65% by 2026 compared to 2023 levels. The company's partnership with majority shareholder Aker Horizons is central to this strategy, allowing Mainstream to leverage resources for efficient operations.

Kristian Røkke, Chairman of Mainstream, expressed his gratitude for Mary Quaney's contributions to the company, stating, "Mary has guided Mainstream's global team with focus, resilience, and integrity, navigating a period of industry-wide transformation." Røkke emphasized the importance of Henriksen's leadership skills in achieving the company’s strategic objectives, remarking that his experience and sector knowledge will be essential for the firm's growth.

Following his appointment, Henriksen shared his enthusiasm about joining Mainstream during this pivotal time. He stated, "Mainstream is well positioned for the opportunities ahead. I am very excited about implementing our vision to build a lean and focused renewable energy company, leading in our core markets and creating value through strong project execution, a lean cost base, and capital efficiency."

Mainstream Renewable Power is recognized for its substantial contributions to the renewable energy landscape, boasting wind and solar assets across Europe, Latin America, Africa, and Asia-Pacific. As a leader in renewable energy development, the company has delivered impressive gigawatt-scale renewables platforms and continues to expand its global project portfolio, which currently stands at 22.7 GW. With strong strategic initiatives underway, Mainstream is poised to drive further innovation and growth in the renewable energy sector.

For more information, please reach out to:

• - Jonas Gamre, Investor Relations, tel +47 97 11 82 92, email [email protected]
• - Mats Ektvedt, Media, tel +47 41 42 33 28, email [email protected]

About Aker Horizons

Aker Horizons focuses on developing green energy and industry aimed at expediting the transition to Net Zero. Active in renewable energy and sustainable industrial assets globally, the company leverages its expertise to drive decarbonization efforts effectively.

About Mainstream Renewable Power

As a leader in the renewable energy sector, Mainstream Renewable Power operates numerous wind and solar assets across various continents. Their commitment to delivering large-scale renewable energy solutions has positioned them at the forefront of the industry's growth trajectory.