Mainstream gets $620 million debt deal for power generation platform

By Devika Patel

Knoxville, Tenn., Sept. 1 – Mainstream Renewable Power has completed a $620 million debt financing to fund construction of its Andes Renovables wind and solar power generation platform in Chile, according to a press release.

The financing was provided by a consortium of five banks: IDB Invest, KfW IPEX-Bank, DNB, CaixaBank and MUFG. A sixth bank, Santander, provided a VAT facility.

The 630 megawatt second phase of Andes Renovables comprises three onshore wind and two solar PV generation assets. All five assets are in pre-construction and will reach commercial operation between 2021 and 2022. They will generate enough sustainable electricity to power 781,000 Chilean homes and will displace 744,200 metric tons of carbon dioxide each year.

The wind and solar development company is based in Dublin.

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