in News Departments > New & Noteworthy
print the content item

The board of Dublin, Ireland-based Mainstream Renewable Power has announced the successful closing of a 40 million euro equity fundraising in which Barclays Capital has invested 20 million for a 14.6% stake in the company. The board, management and staff of Mainstream have invested an additional 20 million euros. Together, with the initial seed capital of 32 million euros, this brings the total equity raised to date to 72 million euros.

The company is planning a major fundraiser later this year, with Barclays Capital committing to invest a further amount at that stage. As part of the deal, Mark Brown, head of Barclays capital commodities principal investment team, has been appointed to the board of Mainstream.

The money raised will be used to fund the company's international expansion plans across Europe, North and South America, and Australia. The company is at advanced stages in the negotiation of large-scale projects in the U.S. The funds will also be used to secure the supply of turbines to be delivered in 2009, 2010 and 2011.

"Barclays Capital's standing in this sector means that the investment marks a strong endorsement of our plans to deliver significant value to our shareholders over the coming years," says Fintan Drury, Mainstream's chairman.

SOURCE: Mainstream Renewable Power

IowaDeptEconDevel_id1863

Trachte Inc._id1770
Latest Top Stories

Report Disputes U.S. Agency's Renewable Energy Projections

A new analysis from the Sun Day Campaign says renewables are slated to provide 16% of U.S. generating capacity by 2018 - over 20 years earlier than forecast by the Energy Information Administration.


Kansas Renewables Mandate Survives Yet Another Attack, But Is It Too Early To Celebrate?

Over the past three years, some legislators have tried to either weaken or repeal the state's renewable portfolio standard, which requires Kansas utilities to reach 20% renewables by 2020.


AWEA Highlights U.S. Wind Success Stories Of 2013

Despite a 92% drop in new capacity last year, the sector still has myriad reasons to celebrate, according to a new report from the American Wind Energy Association.


Feds List New Bird Species As Threatened - Should Wind Developers Be Worried?

The U.S. Fish and Wildlife Service is designating the lesser prairie-chicken as threatened under the Endangered Species Act. An expert explains how this might affect the wind industry.


Senate Committee Passes Bill With Two-Year PTC Extension

The Senate Finance Committee has voted on a tax extenders package, which includes both the production tax credit (PTC) and investment tax credit, and sent it to the floor.

JLG_id1900
Acciona_id1907
WomenofWind_id
UEA_id1896
bonfiglioli_id1913
AWEA_id1886