RGC Technologies customer and Global wind and solar company, Mainstream Renewable Power, has signed an agreement with the renewable energy investment company Aker Horizons (a wholly owned subsidiary of Aker ASA) which will take a 75% equity stake in the company, subject to regulatory approval.
The deal values Mainstream at EUR1 billion (including a potential earn-out of up to EUR 100 million in 2023 and subject to customary adjustments) which represents a significant return for shareholders of up to 5.5 times investment. The agreement paves the way for a rapid acceleration of Mainstream’s global expansion plans to bring 5.5 Gigawatts (GW) of wind and solar assets to financial close by 2023.
The RGC Enterprise System allows the Mainstream engineers to complete Planned Maintenance of the wind turbines no matter where they are in the world. This is due to the fantastic RGC JobPal Mobile Application which can work offline and does not require connection to the cloud to enable the engineer to complete their tasks.