Under the terms of the deal between the two firms, Mainstream will receive an initial €40m corporate facility with provision for €20m more capital in future upon satisfaction of certain approvals and conditions.
The company, which recently submitted a planning application for Scotland’s £1.4bn Neart na Gaoithe offshore project, said it also raised €16.8m from high net worth individuals.
Mainstream intends to take in additional equity to carry out its ambitious expansion plans, including the Energy Bridge which will export 5,000MW of wind power to the UK starting from 2017.
In addition, the Ireland-based firm said it is set for expansion this year with about 325MW of wind and solar plant going into construction in Ireland, Canada, Chile and South Africa.
