Mainstream Renewable Power has returned to profitability this year following its decision to focus on growth markets and exit the offshore wind business.
The developer made a net profit of €96m in the last 12 months, compared with a loss of €46.6m a year ago, it said.
Mainstream aims to have a record 1GW under construction over the next year and is seeking to raise at least €100m in equity to support this. It has contracts for large wind projects in Chile and South Africa, and is planning to develop portfolios in Central America and Asia-Pacific.
“2015 was a landmark year of growth and progress for Mainstream,” Mainstream chief executive Eddie O’Connor said.
“Following a review of our business activities in 2014, we implemented a business plan reflecting a renewed strategic focus; concentrating on the development of renewable energy platforms in growth markets.”
Image: Mainstream
