HomeWorld RegionsEuropeJapanese conglomerate takes $133m stake in Mainstream

Japanese conglomerate takes $133m stake in Mainstream

Marubeni has acquired a 25 per cent interest in Mainstream Renewables, the leading independent developer of renewable energy projects, in a deal worth $133m.

Since 2008, Ireland-based Mainstream has a built a global pipeline of more than 19000 MW of wind and solar projects across four continents with plant currently in construction and operation in Ireland, South Africa, Chile and Canada.

Mainstream
The Japanese firm will, as part of the agreement, obtain the right to representation on the Mainstream Board of Directors alongside Barclays which invested in the company in 2008

The deal signifies a long-term strategic alliance for both companies which will see them working closely together to accelerate Mainstream’s key projects across multiple jurisdictions.

The company, headed by Eddie O’Connor, has recently made a number of strategic announcements; including the receipt of onshore planning consent for its 450 MW offshore wind farm in Scotland and the signing of a $1.4bn deal with Actis to develop a wind and solar platform in Chile.

Earlier this year Mainstream received a grid connection from National Grid for its Energy Bridge which will see Mainstream build and export 5000MW of wind energy from Ireland to the UK starting in 2018.

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