Mainstream raises EUR €60 million in new corporate debt facility
Global wind and solar company Mainstream Renewable Power has successfully closed a new €60 million corporate debt facility. The four year facility was arranged through BlueBay Ireland Corporate Credit, a vehicle established by one of Europe’s leading asset managers BlueBay Asset Management, with substantial investment from the National Pensions Reserve Fund of Ireland, and through Cantor Fitzgerald Ireland from Irish high-net-worth individuals and institutions. The new facility comes at the end of a very successful year for Mainstream during which it:
- Successfully brought six large-scale wind and solar projects through construction and into commercial operation in South Africa, Chile, Canada and Ireland.
- Announced plans to build Ghana’s first utility-scale wind farm which is expected to reach financial close next year.
- Received consent to build and operate two offshore wind farms; the 450MW Neart na Gaoithe offshore wind farm in Scotland and the 1,200MW Hornsea (Project 1) in the UK.
- Continued preparations to start building three wind farms in South Africa in early 2015.