Mainstream Renewable Power increases over US$ 100m to pursue multi-GW pipe as well as come to be 'worldwide power major'
- Mainstream Renewable Power has actually safeguarded EUR90 million (US$ 101.6 million) in equity funding to sustain the build-out of a multi-gigawatt pipe throughout Latin America, Africa and also the Asia Pacific area.
The raising will certainly assist speed up development and also support its ambitions of "coming to be an international renewable energy major", Mainstream stated. The firm has actually lately won a recommended bidder condition for 1.27 GW worth of projects in South Africa and launched a 1GW Nazca Renovables platform in Chile.
Mary Quaney, Chief Executive Officer of Mainstream, said: "This funding will certainly aid us provide on the significant project turning points we have actually revealed in current months, across South Africa, Vietnam and also Chile, and enhance our international development trajectory as we remain to broaden our existence in existing markets along with go into brand-new markets."
The investment came from Mainstream's existing investor base, including Norwegian investment company Aker Horizons, which kept the 75% risk in the company it obtained at the start of the year. Demand from its Irish investors was strong as well as resulted in an oversubscribed purchase, Mainstream said.
