Mainstream Renewable Power, a Dublin, Ireland-based global wind and solar company, raised €90m in additional funding.
The capital increase raised €90m from Mainstream’s current shareholder base, including Aker Horizons, which maintained its 75% stake in Mainstream.
The company intends to use the funds to accelerate new market entries and the build-out of gigawatt-scale wind and solar assets across Latin America, Africa and the Asia Pacific region.
Led by Mary Quaney, Chief Executive Officer, Mainstream Renewable Power is a pure-play renewable energy company with a global presence. The company is focused on expanding its pipeline of more than 16.2 gigawatts (GW) of wind and solar assets across Latin America, Africa, Asia Pacific as well as the global offshore wind sector. In May 2021, it closed an agreement for Aker Horizons to take a 75% equity stake in the company, enabling Mainstream to accelerate its global expansion plan.
Mainstream has secured several strategic wins in recent months, including winning preferred bidder status of projects with a combined capacity of 1.27 GW in South Africa, launching the 1 GW Nazca Renovables platform in Chile and securing an investment decision from the Provincial Government of Soc Trang relating to the 1.4 GW Phu Cuong Soc Trang offshore wind project in Vietnam. Mainstream is also currently in the process of constructing the 1.37 GW Andes Renovables platform in Chile, on track to complete construction between 2021 and 2023.
Mainstream has raised more than EUR3.0bn in project finance to date and employs more than 420 people across five continents.
FinSMEs
29/11/2021