Mainstream secures €60m deal for major renewables expansion

Mainstream Renewable Power has signed a deal that will see the company receive €60m (£48m) from banking services provider Macquarie Group to develop and expand its ambitious wind and solar capacity plans.

The agreed corporate facility will enable Mainstream to fund its renewable energy projects, which include the construction of several wind and solar plants in Ireland, South Africa, Chile and Canada with a total capacity of 325MW.

In addition to the €60m deal, Mainstream said it has also raised €16.8m to further develop its business including the Energy Bridge project, which will export 5,000MW of wind power from Ireland to the UK from 2017.

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