The Board of Mainstream Renewable Power (Mainstream), the pureplay global wind and solar company majority-owned by Aker Horizons ASA, has announced 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.
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.”
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