Mainstream Renewable Power Exits Colombia with 675 MW Asset Sale to Celsia
Deal News | Apr 22, 2025 | PR Newswire Cision Aker Horizons
Mainstream Renewable Power, a majority-owned subsidiary of Aker Horizons, has divested its entire portfolio of wind and solar assets in Colombia, which amounts to 675 MW, to Celsia, a local energy company that is part of the Argos Group. This transaction signifies Mainstream's strategic exit from the Colombian market as it aims to focus on three core markets with significant growth potential: South Africa, Australia, and the Philippines. Mainstream has been developing these Colombian assets, which consist of three solar projects and two wind projects, since 2019. The company’s strategy is now directed towards capital efficiency and a lean approach to project development, aiming to create significant value through strong project execution. This move underscores Mainstream's shift in strategic focus to maximize value creation in select international markets.
Sectors
- Renewable Energy
- Energy
- Investment and Strategy
Geography
- Colombia – The article discusses the sale of energy assets located in Colombia, marking Mainstream’s exit from this market.
- Norway – Aker Horizons, the majority owner of Mainstream Renewable Power, is headquartered in Fornebu, Norway.
- South Africa – Identified as one of Mainstream Renewable Power's core markets in their strategic focus.
- Australia – Identified as one of the primary regions where Mainstream predicts growth potential for value creation.
- Philippines – Listed as one of the strategic focuses for Mainstream Renewable Power’s project development.
Industry
- Renewable Energy – The article centers around the divestment of wind and solar assets, emphasizing the renewable energy sector. Mainstream Renewable Power is engaged in the development and sale of renewable energy assets.
- Energy – Celsia, a local energy company, is acquiring the renewable assets, indicating the energy industry's involvement, specifically in Colombia.
- Investment and Strategy – The article discusses Aker Horizons' investment strategy through Mainstream Renewable Power, highlighting an approach towards divestment and market focus.
Financials
- 675 MW – The size of the renewable energy portfolio sold by Mainstream Renewable Power to Celsia.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Mainstream Renewable Power | Target Company | Company | A leading renewable energy company focusing on wind and solar power, majority-owned by Aker Horizons. |
| Celsia | Bidding Company | Company | A local energy company in Colombia, part of the Argos Group, acquiring the renewable assets from Mainstream Renewable Power. |
| Aker Horizons | Parent Company | Company | Majority owner of Mainstream Renewable Power, focused on renewable energy and industrial decarbonization. |
| Argos Group | Parent Company of Bidding Company | Company | Parent company of Celsia, involved in the transaction through its subsidiary. |
| Jonas Gamre | Investor Relations Contact | Person | Contact person for investor relations at Aker Horizons. |
| Mats Ektvedt | Media Contact | Person | Media contact for information regarding the transaction. |