Mainstream Renewable Power Successfully Realizes Investment in Chilean Power Producer Aela Energía

Mainstream Renewable Power (“Mainstream”), the global wind and solar company, and Actis, a leading global investor in sustainable infrastructure, have sold Aela Energía (“Aela”) to the Canadian-listed developer Innergex Renewable Energy for USD 691 million.

Aela has grown to become Chile’s largest independent power producer of renewable energy, since it was established in 2013 as part of a joint venture between Actis (60 percent) and Mainstream (40 percent). The planned exit reflects the successful culmination of Actis and Mainstream’s strategy for Aela. The divestment will generate net proceeds after tax to Mainstream of approximately USD 114 million.

Aela produces 332 MW of clean energy from three newly built onshore wind farms, and the power is sold via two power purchase agreements with 25 Chilean distribution companies. The clean energy Aela provides powers more than 500,000 homes, avoiding 354 tonnes of CO₂ emissions annually.

Mainstream is one of Chile’s largest renewable energy companies and is currently building out multi-gigawatt renewable energy platforms in the region, including the flagship 1.4 GW Andes Renovables hybrid wind and solar portfolio in Chile.

For further details, please see today’s announcement by Mainstream on: https://www.mainstreamrp.com/insights/actis-and-mainstream-realise-investment-in-chile-s-largest-renewable-energy-ipp-aela-energia/

For further information, please contact:

Ivar Simensen, Communications, Tel: +47 46 40 23 17, ivar.simensen@akerhorizons.com

Christian Yggeseth, Investor Relations, Tel: +47 915 10 000, christian.yggeseth@akerhorizons.com

Emmet Curley, Head of Communications & Positioning, Tel P: +353 86 2411 690, emmet.curley@mainstreamrp.com 

About Mainstream

Mainstream Renewable Power is a leading pure-play renewable energy company with a global footprint. The company is focused on expanding its high-quality pipeline of more than 16 Gigawatts (GW) of wind and solar assets across Latin America, Africa, Asia Pacific as well as the global offshore wind sector. In 2021, Aker Horizons acquired a 75 percent equity stake in the company, enabling Mainstream to accelerate its global expansion plan.  www.mainstreamrp.com

About Aker Horizons

Aker Horizons ASA is a planet-positive investment company dedicated to developing companies within renewable energy and technologies that reduce emissions or promote sustainable living. The company is listed on the Oslo Stock Exchange and majority-owned by Aker ASA. Aker Horizons' investment portfolio includes stakes in Aker Carbon Capture, Aker Clean Hydrogen, Aker Offshore Wind and Mainstream Renewable Power. www.akerhorizons.com