Our Track Record

Mainstream was officially launched with a seed capital of €30 million from its founder, Eddie O'Connor. 

Mainstream will build and operate wind energy, solar plant by partnering with governments, utility companies, developers and investors in both established and emerging markets.

Barclays Capital invest €20 million euro in Mainstream.

Mainstream announced the successful closing of a €40 million equity fundraising in which Barclays Capital invested €20 million for a 14.6% stake in the company.  The board, management and staff of Mainstream, as well as close associates of the company invested an additional €20 million.  Together with the initial seed capital from founder Eddie O'Connor, the total equity raised is €72 million. 

Mainstream signs $1 billion deal to build wind farms in Chile

Mainstream Renewable Power today announced the signing of a $1 billion joint venture deal with its local joint venture partner, Andes Energy. The joint venture company Andes Mainstream SA will see the development of an initial pipeline of 400MW of wind energy in Chile. The deal includes the 35MW Laguna Verde wind farm in the Valparaiso region which is due to be fully operational by 2010.
Under the terms of the agreement, Mainstream will hold a 90% share of the joint venture with Andes Energy taking a 10% stake.

Mainstream awarded offshore wind site in Scottish Waters.

Mainstream was awarded the exclusive rights to develop the 450MW Neart na Gaoithe offshore wind project located in the outer Forth Estuary. 

The site was awarded to Mainstream as part of The Crown Estate’s competitive bidding process where 14 private development consortia submitted formal proposals to build the wind farms in 23 locations off the east and west coasts of Scotland.

Mainstream signs CAD$840 million deal to build wind farms in Canada.

Mainstream announced the signing of a CAD$840 million joint venture deal with Canadian wind farm developer Alberta Wind Energy Corporation (AWEC) to build an initial portfolio of over 400MW of wind energy plants in Alberta by 2013.  The joint venture plans to have a 46MW wind farm in operation in 2010.  

Mainstream to build 500MW in South Africa with Genesis Eco-Energy.

Mainstream announced the signing of a joint venture deal with South Africa wind farm developer, Genesis Eco-Energy , to build an initial pipeline of over 500MW of wind energy in the Western, Eastern and Northern Capes by 2014.

The joint venture deal involves a €850 million capital expenditure over a five-year period.

Mainstream and Siemens Project Ventures win contract to develop 4GW offshore wind farm.

The SMart Wind consortium led by Mainstream and Siemens Project Ventures was awarded a contract to develop 4GW of wind farms as part of The Crown Estate’s Round 3 offshore wind farm programme.

The Hornsea zone will provide enough electricity to meet 4% of all electricity demand in the UK and power approximately 3 million homes.  The total zone area is 4,535Km2 and lies between 34km and 190km off the Yorkshire coast.  

Mainstream wins bid for106.5MW Shady Oaks Wind Farm project in Illinois, USA

Goldwind acquired Mainstream’s 110MW wind project in Lee County, Illinois following success in the Illinois Power Agency’s competitive process. 

The project secured a 20-year renewable energy offtake agreement from ComED through the Illinois Power Agency’s long-term procurement plan.

Round 3’s first met mast installed in the 4GW Hornsea zone

SMart Wind, the joint venture between Mainstream and Siemens Project Ventures successfully installed the first met mast in the 4GW Hornsea Zone. 

The met mast used the world’s first ‘twisted jacket’ foundation in the offshore wind industry and was funded in partnership with the Carbon Trust, DONG Energy.  The novel foundation design aimed to significantly reduce foundation CAPEX costs.  

SMart Wind secures grid capacity for second gigawatt from Hornsea offshore wind Zone.

The SMart Wind consortium, led by Mainstream and Siemens Financial Services (Project and Structured Finance unit) secured grid capacity for the second gigawatt of its 4GW Hornsea offshore wind development off the Yorkshire coast. This second grid connection for the offshore wind farm will connect to Killingholme substation, an existing 400kV substation located in the Humber region and owned by National Grid.  

Mainstream's offshore business gains certification award from Lloyds Register

Mainstream announced its offshore business had been independently certified by Lloyds Register for Quality Assurance (LRQA) for its integrated management system for Safety, Health, Environment and Quality. 

The certification verifies that Mainstream’s management system meets internationally recognised Occupational standards ISO9001, ISO14001 and OHSAS 18001.

Mainstream awarded 238MW of wind and solar contracts in South Africa with an investment value of ZAR5 billion.

The consortium led by Mainstream was awarded preferred bidder status by the Department of Energy in South Africa to deliver 138MW of wind and 100MW of solar PV into commercial operation by 2014. 

The award was made under the first round of the South African Government’s Renewable Energy Procurement Programme and the projects represent an investment of ZAR 5 billion.

Mainstream raises €40 million in Loan Notes.

Mainstream successfully raised €40 million in loan notes in what was one of Ireland’s largest private fundraisings of 2011.  The three-year loan notes were raised by Dolmen Stockbrokers from Irish high-net-worth individuals and institutions. 

Mainstream is the first developer in the industry to attain ISO27001.

Mainstream became the first developer in the industry to attain ISO27001 for its Information Security Management System.  The certification recognises excellence in secure data management.  By utilising 32 Microsoft technologies, Mainstream has successfully built an innovative, paperless management process in compliance with ISO27001.

Our IS Services are delivered via a secure Private cloud allowing us to share information quickly, securely and reliably not just amongst ourselves, but also with our strategic development partners.  

SMart Wind was today named winner of the prestigious Marine Business Award at The Crown Estate's 2012 Business Awards held at the Institute of Directors in London. 

This is the first time this award has been given to an offshore wind developer and recognises 'excellence in sustainability, innovation and business performance' as well as 'integration of environmental, social and economic activities.

Mainstream signs €60 million corporate facility with Macquarie.

Mainstream announced the successful signing of a corporate facility for up to EUR€60 million provided by Macquarie Group.  Under the terms of the transaction, Mainstream will receive an initial EUR€40 million corporate-level facility, with provision for an additional EUR€20 million of capital at a future date.

Mainstream completes financial close and starts build of €70m wind farm in Chile.

Mainstream successfully completed Financial Close on the 33MW Negrete Cuel wind farm in the Bio Bio Region in Chile.  The project has been financed without a Power Purchase Agreement with Mainstream selling the power directly into the spot market.

China Development Bank provided USD52m in senior project finance for the wind farm.

Mainstream partners with global market investor, Actis in €1.4bn deal.

Mainstream joined forces with the global pan-emerging market investor, Actis to deliver 600MW of wind and solar projects into construction in Chile.

The joint venture, Aela Energia, owned 40% by Mainstream and 60% by Actis purchases the projects after they have been fully developed by Mainstream.  

Mainstream closes €100million equity investment with Marubeni.

Mainstream closed a €100 million equity investment by global Japanese Trading Company Maurbeni Corporation to fund significant growth in Mainstream’s key projects across multiple jurisdictions.

Mainstream consortium awarded 360MW in South Africa Government tender with investment value of ZAR9 billion.

A consortium led by Mainstream Renewable Power was awarded Preferred Bidder status by the Department of Energy in South Africa for three large-scale wind energy projects in the Northern Cape with a total generation capacity of 360MW.  The award was made under the third round of the South African Government’s Renewable Energy Procurement Programme. 

A Mainstream consortium was also awarded 238MW of wind and solar projects in the first round of the programme in 2011.

IKEA purchases Canadian wind farm from Mainstream.

IKEA, the global furniture provider, purchased its second wind farm from Mainstream, the Oldman 2 wind farm in Alberta, Canada.  Mainstream has commenced construction of the project at a cost of approximately CAD$90 million and it is expected to be operational in the autumn of 2014 at which point IKEA will purchase the plant.

Consent granted by Scottish Government to build 450MW offshore wind farm.

Mainstream received consent from the Scottish Ministers to build and operate its 450MW Neart na Gaoithe wind farm in the Outer For the Estuary, North Sea.  It will power more than 325,000 homes.  NnG represents a capital investment of some £2bn. 

Development consent order granted for 1.2 GW offshore wind farm.

The UK Government granted development consent for the largest offshore wind farm in the world, Hornsea Zone – Project One (1.2GW).  Project One is located 120km off the Yorkshire coast covering an approximate area size of 407 square kilometres.  When completed, it will meet the electricity needs of around 800,000 UK homes.

Mainstream raises €60m in new corporate debt facility.

Mainstream successfully closed a €60m corporate debt facility.  The four-year facility was arranged through BlueBay Ireland Corporate Credit with substantial investment from the National Pensions Reserve of Ireland, and through Cantor Fitzgerald Ireland from Irish high-net-worth individuals and institutions.

Mainstream completes financial close for three wind farms in South Africa with an investment value of ZAR9bn.

Mainstream concluded financial close for three wind farms in South Africa with a capacity of 360MW.  The consortium led by Mainstream was awarded the contracts from the Department of Energy in South Africa under the third round of its Renewable Energy Procurement Programme.   

Mainstream awarded preferred bidder status for 250MW representing an investment of $469m in South Africa.

A consortium led by Mainstream was awarded preferred bidder status by the Department of Energy in South Africa for two large-scale wind energy projects with a total generation capacity of 250MW.

Mainstream successfully concludes the sale of SMart Wind offshore wind to DONG Energy.

DONG Energy concluded the purchase of the 4,000MW Hornsea Offshore Wind Zone in August 2015.  

SMart Wind, the joint venture between Mainstream and Siemens Project Services, was formed in 2009 to successfully bid for and then to develop the 4,000MW Hornsea Offshore Wind Zone in the UK North Sea as part of The Crown Estate’s licensing round for large-scale offshore wind projects (Round 3).  

Mainstream signs deal to build and operate Ghana’s first utility scale wind farm.

Mainstream signed an agreement with Swiss wind farm developer NEK Umwelttechnik to purchase the Ayitepa wind farm, 40 kilometres east coast of Ghana.

Mainstream’s Chilean JV wins tender for 265MW in Chile

Mainstream’s JV, Aela Energia awarded contracts to build two wind projects as part of the competitive bidding process in Chile.  

The company was awarded the 20-year contracts by the National Energy Commission under a highly competitive bidding process which saw 31 companies compete for 1,200 gigawatt hours of energy.

Mainstream’s pan-African JV Lekela Power signs MoU in Egypt.

Lekela Power signed a MoU with the Egyptian Electricity Transmission Company for a 250MW wind power plant in Egypt’s Gulf of Suez area.  

The project will capitalise on Egypt’s unique wind resources and will be managed with a build, own and operate (BOO) framework.

UK Government awards Mainstream CfD for £2bn offshore wind farm

Mainstream secured a fifteen-year Contract for Difference (CfD) for its 450MW offshore wind farm located in the Outer Forth Estuary in the North Sea. 

The CfD awarded to Mainstream under a competitive tendering process, gives the wind farm an inflation-linked strike price for the electricity it produces during the fifteen-year period.

Mainstream acquires 158MW wind project in Senegal.

Mainstream’s platform in Africa, Lekela Power announced the acquisition of co-development rights and sole rights to invest in the 158MW Taiba N’Diaye wind project in Senegal.  

Lekela is a joint venture between Actis, a leading investor in growth markets and Mainstream.

Rockefeller Brothers Fund among investors confirmed for Mainstream Africa’s power platform.

The Rockefeller Brothers, a private grantmaking foundation announced as part of an investor consortium funding Mainstream’s Africa power generation platform, Lekela Power.  

Mainstream invested $177.5m of equity in the Lekela Power platform, of which $117.5m is funded from the Rockefeller Brothers, Sanlam, the IFC and Ascension Investment Management. 

Mainstream wins seven government contracts in Chile worth $1.65bn

Mainstream was awarded PPAs to build out 986MW of wind and solar projects throughout Chile.  The 20-year contracts, awarded by the National Energy Commission of Chile will realise a total investment of $1.65bn in Chile.  

The projects will begin supplying low-cost, clean energy into the grid from January 2021.

Noupoort wind farm, South Africa officially inaugurated.

The 80MW Noupoort wind farm with an operational period of 20-years was officially inaugurated in a ceremony attended by District Mayor of Umsobumvo, Mr Mzwandile Toto.  Noupoort is the first Round 3 wind farm to reach commercial operation and Mainstream’s fourth renewable energy project to reach commercial operation in South Africa.  

The Noupoort wind farm consists of 35 turbines and will power almost 70,000 South African households.  The project represented an investment of ZAR1.9 billion.  

OPIC commits $250m in financing of wind farm in Senegal.

The Overseas Private Investment Corporation (OPIC) signed a commitment to financing for the development, construction and operation of the 158MW Taiba N’Diaye wind farm in Senegal.

800MW wind project deal signed in Vietnam.

Mainstream and local partner, Phu Cuong Group announced the development of the 800MW wind farm in Vietnam.  The project will be developed out in three Phases.

Mainstream’s Chilean JV obtained US$410m in project finance in Chile. 

Aela Energia, the joint venture between Mainstream and Actis obtained US$410m in project finance for two wind farms in Chile with a combined capacity of 299MW, bringing the projects to financial close.

The projects were awarded through a competitive tendering process in which wind energy prices came in below fossil fuel prices, clearly demonstrating that renewable energy is cheaper than fossil fuel generation.  

Andy Kinsella appointed as Chief Executive of the Mainstream Group.

Following the successful tenure of Eddie O’Connor as Chief Executive, energy industry veteran, Andy Kinsella was appointed to the position of Chief Executive of the Mainstream group and takes overall responsibility for the day to day running of the business, its strategy and direction. 

€50m mezzanine financing for wind farms in Chile.

Mainstream secured $50 m in mezzanine finance to partially fund its equity investment in the 170 MW Sarco and 129 MW Aurora wind farms in Chile.  The projects are owned by Aela Energia – the Chilean joint venture between Actis and Mainstream.  

450MW offshore wind farm sold to EDF Group in Scotland.

The Neart na Gaoithe offshore wind farm, off the coast of Scotland, was sold to EDF Group following a competitive bidding process.  The Mainstream project team won the rights to develop the site in 2009 and gained both onshore and offshore consent for the project.  Neart also won a CfD for the wind farm in 2015 ensuring a 15 year revenue stream for the project.  

Two wind farms reach financial close promising 6.6bn Rand of investment in South Africa.  

Mainstream completed financial close for two large-scale wind farms in South Africa.  A consortium led by Mainstream was awarded the contracts for the wind farms by the Department of Energy in South Africa under the fourth round of the Renewable Energy Independent Power Producer Programme (REIPPPP).  The wind farms will be operational in 2020.  

Financial close completed for West Africa’s largest wind farm (158 MW), Senegal.

Lekela Power, the joint venture between Mainstream and private equity company, Actis, completed financial close for Taiba N’Diaye.  The project has a 20 year PPA with Senelec pegged to the euro and is supported by a Government guarantee. 

Taiba N’Diaye is now in construction with Vestas supplying 46 of its 3.45 MW turbines and contracted for the EPC work.

Mainstream and Senvion sign 424 MW of conditional orders.

Mainstream and Senvion signed conditional orders to advance projects in the Andes Renovables platform.  The turbines will supply the wind farms in Phase 1 of Mainstream’s fully-contracted 1.3 GW wind and solar platform awarded to the company in the Chilean energy auction in August 2016.