As per the terms of the agreement, the Mainstream will receive €40m to begin with, and a further €20m to be injected by Macquarie on the compliance with stipulated conditions.
Commenting on the agreement Mainstream’s Chief Executive Eddie O’Connor remarked that the investment from Macquarie was accomplished after much due diligence.
"After going through our initial development stage, Mainstream is now embarking on a very strong growth trajectory.
"We have a team of over 150 specialised staff actively developing more than 50 large scale wind and solar projects across four continents," O’Connor explained.
Macquarie Group’s Chief Executive in Europe, Middle East and Africa, David Fass, commented: "Macquarie is delighted to support Mainstream in the realisation of its UK and global renewable energy pipeline.
The company also raised €16.8m from several private investors and will look to secure more equity to fund amongst other projects its 5,000MW Energy Bridge wind project in Ireland.
Mainstream is currently constructing 325MW worth wind and solar projects in Ireland, South Africa, Chile and Canada. Construction on another 138MW wind farm and two 50MW solar projects expected to commence this year.
The company expects its first Irish project, a 9MW wind farm, to start commercial operations in November 2012 besides commencing construction of the 33MW Negrete Cuel Wind farm in Chile and the 46MW Old Man wind farm in Canada.
