Mainstream Renewable Power raises over US$100m to pursue multi-GW pipeline and become ‘global energy major’

Facebook
Twitter
LinkedIn
Reddit
Email
Mainstream is looking to accelerate the build-out of its pipeline across Latin America, Africa and the Asia Pacific region. Image: Mainstream Renewable Power

Mainstream Renewable Power has secured €90 million (US$101.6 million) in equity funding to support the build-out of a multi-gigawatt pipeline across Latin America, Africa and the Asia Pacific region.

The raise will help accelerate growth and support its ambitions of “becoming a global renewable energy major”, Mainstream said. The company has recently won a preferred bidder status for 1.27GW worth of projects in South Africa and launched a 1GW Nazca Renovables platform in Chile.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Mary Quaney, CEO of Mainstream, said: “This funding will help us deliver on the major project milestones we’ve announced in recent months, across South Africa, Vietnam and Chile, and strengthen our global growth trajectory as we continue to expand our presence in existing markets as well as enter new markets.”

The investment came from Mainstream’s current shareholder base, including Norwegian investment firm Aker Horizons, which maintained the 75% stake in the company it acquired at the start of the year. Demand from its Irish investors was strong and resulted in an oversubscribed transaction, Mainstream said.

Read Next

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
May 29, 2024
11am (EDT) / 5pm (CEST)
Solar Media Events
June 4, 2024
London, UK
Upcoming Webinars
June 11, 2024
3:00 PM (BST) / 4:00 PM (CEST)
Solar Media Events
July 2, 2024
Athens, Greece