Mainstream signs €1 Billion Equity Investment Deal with Aker Horizons

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.

"Mainstream first implemented RGC in 2013 to track maintenance on our wind farms in four continents. During this time, we have found the software to be robust and user friendly, two critical items when implementing software in remote locations. Close to 1000 work orders are completed each month, and the combination of the Cmms Online web portal and Job Pal app have allowed us to digitise what were previously paper inspections. This is a game changer in analysis of maintenance data through the MS Power BI platform."
Alan McCarthy
PMO & Business Analytics Manager
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