Mainstream Renewable Power evaluates new equity investor

19 November 2019 - 12:00 am UTC

Mainstream Renewable Power is considering bringing in a new equity partner at the corporate level in part to fund the near-term rollout of a 2.2 GW project portfolio across the globe.

It is currently in negotiations to appoint an investment banking firm to advise on the sale, sources said. 

“Mainstream will appoint advisors to independently assess and validate the company’s business portfolio with a view to potentially finding a top co. partner who shares Mainstream’s vision, values and sense of mission; and who could help to drive this ambitious build-out program over the coming years,” a company spokesman told Inframation’s sister publication SparkSpread. 

The potential equity sale comes a little over a year after Mainstream bought out two of its minority shareholders with proceeds from its sale of the 450 MW Neart na Gaoithe offshore wind project to EDF Energy Renewables in excess of GBP 500m (USD 647.3m) in 2018.

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