Eddie O'Connor
Independent renewable-energy company Mainstream Renewable Power, which is in the process of developing a sizeable South African portfolio, has launched a new capital-raising unit designed to secure competitive financing for wind and solar projects.
Known as Mainstream Capital the business will seek to create a platform for pension funds and insurance companies hoping to benefit from government-backed, long-term cash flows to invest directly in the company's projects.
CEO Eddie O'Connor, who announced details of the new business at the international Sustainability Gathering in Dublin, Ireland, said the initiative was supported by Mainstream’s record of delivery around the world.
The group currently has a project portfolio comprising over 19 000 MW in Ireland, the UK, Germany, South Africa, Chile, the US and Canada and is actively looking at the best opportunities in new markets.
In South Africa, Mainstream Renewable Power is involved with consortiums that are together building or in the process of closing deals on wind and solar projects with combined capacities of nearly 600 MW.