Mainstream Renewable Power has raised €90m in additional funding to accelerate new market entries and the build-out of gigawatt-scale wind and solar assets across Latin America, Africa and the Asia Pacific region.
The capital increase raised the money from Mainstream’s current shareholder base, including Aker Horizons, which maintained its 75% stake in the company.
Demand from Mainstream’s Irish investor base was strong, resulting in an oversubscribed transaction, the company said.
Mainstream chief executive Mary Quaney (pictured) said: “Today’s announcement of an additional €90m of funding means that Mainstream can accelerate its role in tackling climate change across the globe.
“This funding will help us deliver on the major project milestones we’ve announced in recent months, across South Africa, Vietnam and Chile, and strengthen our global growth trajectory as we continue to expand our presence in existing markets as well as enter new markets in the months ahead.”