Mainstream Renewable Power has secured a €110m increase to its existing trade finance facility, taking the total amount to €200m.
Investment bank ABN AMRO led the recent deal, with a panel of international insurance companies acting as sureties.
They join the existing €90m facility led by DNB and HSBC last year.
The €200m facility will be used to support bid bonds, performance bonds, and equity commitments at the wind and solar developer.
Mainstream will also draw on the finance to support its equity commitments related to the construction of its $1.65bn (€1.5bn) Andes Renovables portfolio in Chile, where the company owns 1.3GW of fully contracted wind and solar projects.
Mainstream chief financial officer Mary Quaney said: “This global facility, the largest in Mainstream’s history, signals our ambitions and gives us the freedom to pursue opportunities without geographical restriction.
“In the first instance, it will help us to fund our transformational Andes Renovables portfolio in Chile. This 1.3GW portfolio is ensuring renewable energy continues to outcompete both new and existing fossil-fired generation, delivering firm power across Chile.”
ABN AMRO global head of client coverage Vincent Goedegebuure said: “Supporting our clients in the energy transition is at the heart of ABN AMRO’s strategy and as such we are delighted to be able to support Mainstream in achieving its strategic ambitions and further develop large renewable energy projects. Mainstream is truly contributing to the sustainability shift and we are proud to have become part of their story.”