Mainstream Renewable gets €90 million loan for wind, power projects

By Susanna Moon

Chicago, Jan. 16 – Mainstream Renewable Power said it closed a new €90 million trade finance facility, funded equally by DNB and HSB.

Proceeds will be to support the group's equity commitments to construct a condor portfolio in Chile, which is the first phase of its wholly owned 1.3 GW Andes Renewables Platform of fully contracted wind and solar projects, according to a company announcement.

The facility contains an upsizing option to €200 million via new lenders, the release noted.

“This global facility gives us the freedom to pursue large-scale development opportunities around the world,” Andy Kinsella, Mainstream’s group chief executive, said in the press release.

“First up, it will help us to fund the first phase of our fully-contracted 1.3 gigawatt Andes Renewables wind and solar platform in Chile, where our assets are ensuring renewable energy continues to outcompete both new and existing fossil fired generation.”

Mainstream is a developer of utility-scale wind and solar power plants in high-growth markets. The company is based in Dublin.

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