Mainstream Renewable Power and Japanese Trading Company Marubeni Corp. have agreed on a EUR 100 million equity investment deal that sees Marubeni gaining a circa 25% holding in Mainstream.
The deal, which is subject to shareholder approval, represents the largest single equity investment in the company's five-and-a-half year history. As part of the agreement, Marubeni obtains the right to representation on the Mainstream board of directors alongside Barclays, which invested in the company in 2008.
According to Mainstream, the deal signifies a long-term strategic alliance for both companies, which will see them working closely together to accelerate Mainstream's key projects across multiple jurisdictions. Marubeni Corp. already has business interests in the global renewables sector, including the offshore wind industry in Europe and the electricity supply business in the U.K.
Since it was established in 2008, Mainstream has a built a global pipeline of more than 19,000 MW of wind and solar projects across four continents with plants currently in construction and operation in Ireland, South Africa, Chile and Canada.
