Mainstream Renewable Energy sells 25% stake to Marubeni for €100 million

August 5, 2013
Facebook
Twitter
LinkedIn
Reddit
Email

Irish renewables developer Mainstream Renewable Power has signed an equity investment deal worth €100 million (US$133 million) with Japan’s Marubeni Corporation trading company.

The stated aim of the deal is to accelerate Mainstream’s key projects, with Marubeni acquiring a 25% holding in Mainstream. Subject to shareholder approval of the deal, Marubeni will become the second largest shareholder in Mainstream, with the right to representation on the Mainstream board of executives.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Mainstream was founded in 2008 and numbers Barclays among its other investors. Mainstream have recently announced several projects, including a plan to develop solar and power projects in Chile, in a deal worth US$1.4 billion. The company has developed renewable energy plants in nations including Ireland, South Africa, Chile and Canada with projects underway or planned in three further countries.

Mainstream Renewable Power's chief executive Eddie O'Connor said: “This investment is a game-changer for Mainstream allowing us to focus on accelerating our project portfolios across a range of markets as well as entering into new strategic jurisdictions which present strong value opportunities for our business.”

Marubeni is one of the largest of a handful of trading companies, or ‘shosha’ in Japan, which combine large-scale direct involvement in various industry sectors with acting as investment banks and vehicles for raising private equity. Other shosha include Mitsubishi and Sumitomo, both of which have either solar power projects in their investment portfolios or direct involvement in planning and construction of PV projects.

The deal is thought to be part of a wider strategy by Marubeni to further expand the power generation portfolio held by the Japanese company. Marubeni also signed deals in gas and thermal power recently to manage 3.3GW of power generation capacity from thermal in Portugal and the company is also involved in offshore wind and geothermal energy projects in Japan. Marubeni were forced at the beginning of 2012 to pay a US$54.6 million fine relating to charges of corruption in Nigeria over the award of contracts to build a natural gas plant.

Read Next

Premium
October 17, 2025
According to Ronak Maheshwari of CRC-IB, there has been a struggle for US renewable power projects to secure necessary equity .
October 17, 2025
Norwegian renewable energy firm Scatec has signed lease agreements for 64MW of solar PV and 10MWh of energy storage capacity in Liberia and Sierra Leone.
October 17, 2025
A group of over 20 US states are suing the Trump administration for the cancellation of the US$7 billion Solar For All Scheme.
October 16, 2025
Masdar and Turkey have entered the final stage of US$1 billion agreement to develop the 1.1GW plant in Bor, Niğde Province, central Turkey.
October 16, 2025
T1 Energy and Nextracker have agreed to use the latter’s steel module frames at the former’s new 5GW module manufacturing facility in Dallas.
October 16, 2025
US utility-scale solar additions grew by 56% in 2024, reaching 30GW from 2023’s 19GW and representing over 54% of all new electricity generation capacity added in the country last year.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK