Mainstream Renewable Power, a global leader in wind and solar energy and primarily owned by Aker Horizons ASA, has announced the appointment of Morten Henriksen as Chief Executive Officer (CEO), effective from April 1, 2025. Henriksen succeeds Mary Quaney, the current CEO, who will continue to assist in the transition as a senior advisor until her departure at the end of 2025.
Strong background in the energy industry
Morten Henriksen joins Mainstream after serving as CEO of Gassnova, the Norwegian state-owned company responsible for carbon capture and storage. He has also held leadership positions in the energy sector both in Norway and internationally, with companies such as Arendals Fossekompani and Statkraft, as well as several roles on boards of directors. His extensive experience in the energy sector is seen as a major asset in driving Mainstream’s ambitions forward.
A strategy focused on cost reduction and international growth
This appointment comes as Mainstream enters a new strategic phase, aiming to focus its efforts on three high-growth markets: South Africa, Australia, and the Philippines. The company is seeking to significantly reduce costs, with a target of cutting 65% of its expenses by 2026 compared to 2023 levels. To support this, Mainstream plans to relocate its headquarters from Dublin to Oslo in the first half of 2025. This decision is designed to optimise the resources of its majority shareholder, Aker Horizons, and enhance the company’s global competitiveness.
A strategic shift backed by leadership
Mainstream’s Chairman, Kristian Røkke, expressed his gratitude to Mary Quaney for her leadership over the past five years, highlighting her ability to guide the company through a period of profound transformation within the sector. According to Røkke, Henriksen’s expertise will be crucial in achieving the company’s strategic objectives and supporting its international development.
A vision for sustainable growth
Morten Henriksen expressed his enthusiasm for implementing Mainstream’s vision, which aims to strengthen capital efficiency and pursue sustained growth in its target markets. He noted that the company is well-positioned to seize the opportunities offered by the global energy transition while maintaining a rigorous approach to cost management.
