Mainstream Renewable Power has announced the appointment of Morten Henriksen as its new Chief Executive Officer, effective April 1, 2025. Henriksen will succeed Mary Quaney, who has led the company for the past five years and will transition to a senior advisor role before stepping down in the latter half of 2025 to pursue other interests.
Henriksen, currently CEO of Gassnova, the Norwegian state enterprise for carbon capture and storage, brings significant experience in the energy sector, having held executive management roles in Norway and internationally at companies such as Arendals Fossekompani and Statkraft. His appointment comes as Mainstream continues to implement its updated strategy, which focuses on reducing its cost base and targeting growth in three core markets: South Africa, Australia, and the Philippines.
Mainstream also plans to relocate its headquarters from Dublin to Oslo in the first half of 2025 as part of its strategy to reduce its cost base by approximately 65% by 2026, compared to 2023 levels. The company aims to leverage the resources of its majority shareholder, Aker Horizons, in this effort.
Kristian Rokke, Chairman of Mainstream Renewable Power, expressed gratitude for Quaney’s leadership, saying, “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.”
Rokke also emphasized Henriksen’s capabilities, stating, “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.
Henriksen commented on the transition, saying, “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.
