Floating wind specialist Aker Offshore Wind (AOW) is set to merge with global clean energy developer Mainstream Renewable Power under a plan announced by the parent group of both companies, Norway’s Aker Horizons, which hailed its “strong industrial logic”.

The move – for several months flagged as the best way forward for AOW by some financial analysts – would see the listed offshore wind business taken private by Aker Horizons and then combined with Mainstream.

Aker Horizons in a separate move also plans to take its Aker Clean Hydrogen subsidiary private, after spinning out and listing the companies in 2020.