Brief: Aker Horizons: Mainstream Renewable Power And AboitizPower Enter Joint Venture Agreement For Initial 90 MW Wind Project In The Philippines

Aker Horizons ASA

12/10/2022 12:00

Oct 12 (Reuters) - Aker Horizons ASA  AKH.OL :
    * MAINSTREAM RENEWABLE POWER AND ABOITIZPOWER ENTER JOINT
VENTURE
AGREEMENT FOR INITIAL 90 MW WIND PROJECT IN THE PHILIPPINES
    * TODAY ANNOUNCES SIGNING OF A JOINT VENTURE AGREEMENT WITH
ABOITIZ POWER CORPORATION ("ABOITIZPOWER"), VIA ITS SUBSIDIARY
ABOITIZ RENEWABLES, INC
    * 90 MW LIBMANAN ONSHORE WIND PROJECT IS EXPECTED TO REACH
FINANCIAL CLOSE IN 2023 AND ACHIEVE COMMERCIAL OPERATIONS IN
2025
    * JOINT VENTURE IS BEING DELIVERED THROUGH AN INVESTMENT
AGREEMENT
FOR ARI'S PROPOSED ACQUISITION OF A 60 PERCENT STAKE IN LIBMANAN
ONSHORE WIND PROJECT, WHICH MAINSTREAM HAS BEEN DEVELOPING SINCE
2017 WITH ITS LOCAL PARTNER
    * JOINT VENTURE, WHICH IS SUBJECT TO REGULATORY APPROVALS,
IS
BEING DELIVERED THROUGH AN INVESTMENT AGREEMENT FOR ARI'S
PROPOSED ACQUISITION OF A 60 PERCENT STAKE IN LIBMANAN ONSHORE
WIND PROJECT

Source text for Eikon:  ID:nWkr3VqRGm 
Further company coverage:  AKH.OL 
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