MAINSTREAM RENEWABLE CAPITAL is the financing and investment arm of global wind and solar company Mainstream Renewable Power

MAINSTREAM RENEWABLE CAPITAL creates custom-made opportunities for investors to gain exposure to the fast growing renewable energy infrastructure sector.

Through its parent company Mainstream Renewable Power, it has access to a unique, rapidly growing, global portfolio of high quality, wind and solar generation projects at different stages, from financial close to in-development and fully operational. This 6.5GW portfolio spans a range of different technologies, geographies and time-lines, giving investors rich possibilities to find the investment opportunity that best suits their risk appetite and term preferences.

Read our press release about the establishment of Mainstream Renewable Capital

WHAT WE DO

A unique global portfolio of high quality wind and solar generation projects

There is a growing number of sophisticated investors looking for responsibly structured exposure to the renewable energy market. Mainstream Renewable Capital creates custom-made investment vehicles and structures that optimise investor appetite for competitive returns associated with a spectrum of types and degrees of risk across Mainstream Renewable Power’s substantial asset development portfolio that spans Latin America, Africa and Asia.

All of our projects are backed by long term Power Purchases Agreements (PPAs), and by credit support mechanisms including sovereign guarantees where necessary. Mainstream Renewable Power has built up a track record of working with financial institutions such as IFC, which we believe is unique in this space.

According to BNEF report June 2016, there is fundamental transformation of the world electricity system over coming decades towards renewable sources such as wind and solar. Renewables are set to take the lion’s share in terms of global investment. Some $7.8 trillion will be invested in green power, with onshore and offshore wind attracting $3.1 trillion, utility-scale, rooftop and other small-scale solar $3.4 trillion, and hydro-electric $911 billion.

The levelised costs of generation per MWh for onshore wind will fall 41% by 2040, and solar photovoltaics by 60%, making these two technologies the cheapest ways of producing electricity in many countries during the 2020s and in most of the world in the 2030s.

MRP is uniquely positioned to benefit from the strong continued growth of the global renewable market, with an unparalleled track record, scale and international footprint, based in markets that are driven by economics rather than subsidies.

OUR PROJECTS

Mainstream has a track record in delivering exceptional quality projects, on time, safely and within budget

Latin America

Chile

In August 2016 Mainstream led the largest and most competitive energy tender in Chilean history and was awarded 1.3GW of 20-year wind energy PPAs. The project portfolio, Andes Renovables is wholly owned by Mainstream and currently Phase 1 – Condor with 571 MW has reached financial close. Phase 2 – Huemul reached financial close in September 2020. It already has a 332MW wind farm in operation 2 with PPAs, through its joint venture with Actis, Aela Energia.

Our Projects in Chile
Name	Status	Technology	MW
Cuel	In Operation	Wind	33
Aurora	In Operation	Wind	129
Sarco	In Operation	Wind	170
Cerro Tigre	In Construction	Wind	185
Tchamma	In Construction	Wind	157
Rio Escondido	In Construction	Solar PV	145
Pampa Tigre	In Construction	Solar PV	100
Valle Escondido	In Construction	Solar PV	105
Alena	In Construction	Wind	86
Ckani	In Construction	Wind	109
Llanos Del Viento	In Construction	Wind	160
Puelche Sur	In Construction	Wind	156
Mid-late stage development	In Development	Solar	1,200
Mid-late stage development	In Development	Wind	1,400

Africa

South Africa

Mainstream has been awarded 848MW of long-term PPAs under the Government’s tendering programme (REIPPPP). The company also has an additional portfolio of high quality wind and solar PV projects advancing through the development process.

Ghana

Ayitepa Wind Farm, 150 MW (Lekela Power, in development)

Senegal

Taiba Ndiaye Wind Farm, 158 MW. OPIC commits $250 million in financing (Lekela Power, in construction)

Egypt

Wind

West Bakr, 252 MW (Lekela Power, in construction)

Our Projects in South Africa
Name	Status	Technology	MW
Jeffreys Bay	Operational	Wind	138
De Aar	Operational	Solar PV	50
Droogfontein	Operational	Solar PV	50
Noupoort	Operational	Wind	80
Loeriesfontein	Operational	Wind	140
Khobab	Operational	Wind	140
Perdekraal East	In Construction	Wind	110
Kangnas	In Construction	Wind	140

Asia

Vietnam

Mainstream and local company, Phu Cuong Group are developing the 1,400 MW Phu Cuong Offshore Wind Farm in the Soc Trang Province. Mainstream has opened two offices in support of its expansion into Vietnam and is looking at further onshore wind, offshore wind and solar projects.

Singapore

Mainstream has established Singapore as its regional hub for the Asia Pacific region ahead of significant expansion plans. In 2019, it appointed Raghuram Natarajan as Chief Executive Officer to spearhead this expansion.

The Philippines

Mainstream has established a development office in Manila and is actively pursuing development opportunities in the Philippines.

Australia

Mainstream has established a development office in Melbourne and is actively pursuing development opportunities.

MEET THE TEAM

The breadth and depth of our in-house expertise makes us unique in the renewable energy industry

Paul Corrigan, Group Chief Finance Officer

Paul was appointed to the role of Group Chief Financial Officer for Mainstream Renewable Power in August 2020. He joined Mainstream in 2008 and has been a part of Mainstream’s management team and a director of a number of Mainstream group companies since 2014.

Previously, he led Mainstream’s corporate finance division responsible for managing company strategy and the funding of Mainstream’s global activities principally through raising equity and debt amounts at the holding company and project company levels working with large international financial institutions and smaller retail or High Net Worth investors in Ireland and the UK.

Paul has executed multiple transactions with a value of c.€2.0bn, in project finance, mezzanine finance, trade finance, corporate debt, M&A etc across multiple jurisdictions.

Prior to joining Mainstream, he worked in IBI Corporate Finance and KPMG, qualifying as an Associate of both the Irish Taxation Institute and a Fellow of the Institute of Chartered Accountants. He holds a Master’s degrees in Finance and Economics from the London School of Economics.

Christopher Ryan, Head of North America

Chris joined Mainstream Renewable Capital in February 2018 and is responsible for initiating and maintaining strategic relationships with institutional debt and equity providers. He is based in New York City and has over 30 years of experience in energy development and management, mergers & acquisitions, and capital raising, the last 15 of which were entirely focused on the International IPP sector. Previously, Chris was Chief Financial Officer and Board Member of Beowulf Energy LLC, a partner in the financial advisory practice of Evercore Partners Inc., and an investment banker at both Morgan Stanley & Co. Incorporated and Lehman Brothers Inc. Mr. Ryan received a BA in Economics from the University of Pennsylvania.

Ray McLaughlin, Head of Capital Markets

Ray is responsible for managing strategic relationships with institutional debt and equity providers to fund Mainstream’s global development portfolio of wind and solar projects.

Based in Singapore, Ray has spent over 17 years in the asset management and banking sectors. He has originated and structured multiple investments in the renewable energy industry and has developed a strong client network internationally encompassing some of the world’s largest institutions, Sovereign Wealth Funds, Corporates and Family offices.

Previously, Ray’s experience includes roles in Royal Bank of Scotland (RBS) and international private bank – Julius Baer, specialising in UHNW relationship management, financial structuring and investment product design. Ray holds a Bachelor of Engineering (Honours) in Electrical Engineering from Queen’s University Belfast.

mrpcap-roundheads-adrian

Adrian Swift, Head of Corporate Finance

Adrian joined Mainstream in June 2016 as part of the Corporate Finance Team to manage Mainstream’s relationship with the Impact Investors in Lekela, Mainstream’s pan-African joint venture with Actis. In addition, Adrian manages Mainstream’s relationship with Lekela. This includes managing all aspects of funding requirements, reporting and corporate governance. Adrian has over 20 years’ experience in various finance positions, including working for over six years with KPMG in their Corporate Finance and Financial Services Tax departments advising on Public Private Partnership and corporate restructurings. In addition, Adrian was part of the finance team in Trinergy that refinanced and sold a €1.8bn portfolio of wind energy assets in Italy and Germany. Adrian holds a Degree in Actuarial and Financial Studies from UCD and an MSc in Industrial and Financial Mathematics from DCU. He is a qualified accountant and an Associate of the Irish Taxation Institute.

Barry Carson, Corporate Finance Manager

Barry joined Mainstream in August 2014 as part of the Corporate Finance Team with responsibility for corporate cashflow forecasting and valuation modelling. Barry is a key contact for the company’s debt and equity relationships, he also works closely with the Finance department to develop Mainstream’s corporate business plan and budget. Previously, Barry spent eight years operating his own transport and property business, B&R Carson. Prior to that Barry spent two years with a financial services company, Allied Irish Bank/Bank of New York Trust company. Barry holds a Degree in Scientific Management (Finance) from Trinity College Dublin, a Postgraduate Certificate in Corporate Treasury from Dublin City University and a Masters in Sustainable Energy Finance from Dublin City University.

Joanna Villaneuva, Senior Corporate Finance Executive

Joanna joined Mainstream in 2018 as part of the Corporate Finance Team as. In this role, she is a key contact for the company’s corporate debt and equity relationships. Previously, Joanna spent five years in a commercial role for a renewable energy company in the Philippines. Joanna holds a degree in Management Engineering from Ateneo de Manila University and a MBA from the UCD Michael Smurfit Graduate Business School.

CONTACT US

We want to hear from you

Our Contact Details

USA
379 West Broadway
2nd Floor
New York, NY 10012
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Phone: +1 646 876 9899

Ireland
Top Floor, Arena House
Arena Road, Sandyford
Dublin 18, V8P6
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Phone: +353 (01) 290 2000

Email: MRCapital@mainstreamrp.com