Mainstream Renewable Power Appoints Morten Henriksen as CEO

FORNEBU, Norway, Feb. 27, 2025 /PRNewswire/ -- The Board of Mainstream Renewable Power ("Mainstream"), the pureplay global wind and solar company majority-owned by Aker Horizons ASA, is pleased to announce the appointment of Morten Henriksen as Group CEO, effective April 1, 2025. Henriksen comes from the position of CEO of Gassnova, the Norwegian state enterprise for carbon capture and storage. His previous experience spans executive management roles in the energy industry in Norway and internationally for companies including Arendals Fossekompani and Statkraft, in addition to multiple board positions.

Current CEO Mary Quaney will continue to support Mainstream and the transition in a Senior Advisor capacity before stepping down in the second half of 2025 to pursue other interests.

The appointment comes as the Company implements its updated strategy, continuing to deliver significant cost base reduction targets and sharpening its focus on three core growth markets where it sees the greatest potential for value creation – South Africa, Australia, and the Philippines.

In order to reduce costs and leverage the resources of its majority shareholder Aker Horizons, Mainstream is relocating its headquarters from Dublin to Oslo in the first half of 2025. This is in line with its plan to reduce its cost base by approximately 65% by 2026, relative to 2023 levels.

Mainstream's Chairman, Kristian Røkke, said: "We would like to express our gratitude to Mary for her leadership over the last five years. She has guided Mainstream's global team with focus, resilience and integrity, navigating a period of industry-wide transformation."

He continued: "As we enter a new phase, Morten brings extensive experience and deep sector expertise to position Mainstream for growth. His leadership will be instrumental in executing the Company's strategy and driving Mainstream's growth in the global energy market."

Commenting on his appointment, Morten Henriksen said: "Mainstream is well positioned for the opportunities ahead. I am very excited about implementing our vision to build a lean and focused renewable energy company, leading in our core markets and creating value through strong project execution, a lean cost base and capital efficiency."

For further information, please contact:
Jonas Gamre, Investor Relations, tel: +47 97 11 82 92,
email: [email protected]
Mats Ektvedt, Media, tel: +47 41 42 33 28,
email: [email protected]

About Aker Horizons

Aker Horizons develops green energy and green industry to accelerate the transition to Net Zero. The company is active in renewable energy, carbon capture and sustainable industrial assets. As part of the Aker group, Aker Horizons applies industrial, technological and capital markets expertise with a planet-positive purpose to drive decarbonization globally. Aker Horizons is listed on the Oslo Stock Exchange and headquartered in Fornebu, Norway. Across its portfolio, the company is present on five continents. www.akerhorizons.com

About Mainstream Renewable Power

Mainstream Renewable Power is a leading pure-play renewable energy company with wind and solar assets across Europe, Latin America, Africa, and Asia-Pacific. Mainstream is one of the most successful developers of gigawatt-scale renewables platforms, across onshore wind, offshore wind, and solar power generation. The company has successfully delivered 6.6 GW of wind and solar generation assets to financial close-ready and has a global project portfolio of 22.7 GW. www.mainstreamrp.com

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