FORNEBU,Norway,Aug. 29,2024 -- Mainstream Renewable Power ("Mainstream"),the pureplay global wind and solar company majority-owned by Aker Horizons ASA,announced that the joint venture KF Wind,a 1,125 MW floating offshore wind project being developed off the coast of Ulsan and owned by Mainstream (33.3%) and Ocean Winds (66.7 %),has secured the Environmental Impact Assessment (EIA) approval from the Ministry of Environment for the totality of the two-phase project. Award of the EIA is a key milestone for the development of the two-phase floating offshore wind project,advancing towards construction.

The EIA has been achieved after more than 12 months of an onsite monitoring campaign and several rounds of consultations with local communities,key local stakeholders and fisheries. The EIA approval focused on the application of the highest environmental standards,incorporating the valuable experience of KF Wind's sponsors,Ocean Winds and Mainstream Renewable Power.

The EIA comprises the first phase,East Blue Power,of 375 MW and the second phase,KF Wind,of 750 MW. The scope includes 75 turbines and floating foundations,two bottom fixed offshore substations,three submarine export cables of 80 kilometers each,one onshore substation and the onshore high voltage line of 4.5 kilometers until the interconnection point at Korea Electric Power Corporation (KEPCO)'s Shinonsan onshore substation.

For further information,please contact:

Stian Andreassen,Investor Relations,Tel: +47 41 64 31 07,stian.andreassen@akerhorizons.com

Niamh McGrath,Media,Mainstream Renewable Power,Tel: +353 87 641 6831,niamh.mcgrath@mainstreamrp.com

Mats Ektvedt,Tel: +47 41 42 33 28,mats.ektvedt@corporatecommunications.no

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