With plans to bolster the strategic partnership between Norwegian Aker and Japanese Mitsui, the latter will now officially join Aker's RE company Mainstream Renewable Power.

Mitsui is set to buy a 25.75-percent stake in the company, seeking to maximize value creation for Mainstream Renewable along with its partners. The collaboration encompasses renewable energy, trading, operations, batteries as well as hydrogen and ammonia. The two parties have wider plans for carbon capture and storage down the road.

"Mitsui will contribute to Mainstream's growth and supporting its value creation by leveraging its wide range of engineering, procurement, construction and operating capabilities of power generation assets as well as its global business networks with customers across industries. Through this participation, Mitsui will accelerate its efforts in developing a large-scale renewable energy business to transform our power generation portfolio and reduce GHG emissions across the global society," writes Mitsui in a press release.

Mitsui is expected to formally join Mainstream in April.

Mainstream's portfolio of approximately 16.6GW is spread out across Latin America, Africa and Asia-Pacific. These assets are either in operation, under construction or in development. Furthermore, the company has just closed a deal together with Aker Offshore Wind for a 800MW floating wind project in Mitsui's home country.

"We are delighted to welcome Mitsui as our new strategic partner alongside Aker Horizons. Together we are fully focused on expediting our ambitious growth plans and leveraging our collective expertise and resources to transform Mainstream into a global renewable energy major this decade," says CEO of Mainstream Renewables Mary Quaney.

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