Aker Offshore Wind increases stake in Principle Power Inc
Aker Offshore Wind further increases its ownership in Principle Power Inc from about 39 percent to approximately 47 percent.On December 16, 2020, Aker Offshore Wind through its subsidiary Vestavindar Offshore Wind AS, signed a binding share purchase agreement, which will see a transfer of about 8 percent of the share capital in Principle Power to the Aker company. The transaction value is in line with the most recent PPI equity transactions and will be funded by Aker Offshore Wind’s existing financial resources. Principle Power’s proven floating wind technology is currently being