Under the terms of the investment deal, Marubeni will acquire around 25% stake in the assets of Mainstream.
According to Mainstream Renewable, both the companies will work together to accelerate Mainstream’s key projects across multiple jurisdictions.
Commenting on the deal, Mainstream Renewable Power chief executive Eddie O’Connor said that this investment will enable the company to focus on accelerating its project portfolios across a range of markets as well as entering into new strategic jurisdictions.
Marubeni Europower president Hiroshi Tachigami said, "Marubeni is delighted to seize the opportunity with the right company at the right time in the global renewable energy businesses. This is a strong partnership as Mainstream and Marubeni sees our future overlap in many areas."
Mainstream is an independent developer of offshore wind, onshore wind and solar power businesses which has expertise in the development stage of projects such as securing land, analyzing wind, and obtaining approval.
Currently, Mainstream is developing 6,000MW Hornsea offshore project off the Yorkshire coast of England, through a joint venture with Siemens Financial Services and is also independently developing 450MW Neart na Gaoithe project off the coast of Scotland.
Founded in 2008, Mainstream has an installed capacity of around 19,000MW and has its presence across seven countries such as Ireland, UK, Germany, South Africa, Chile, USA, and Canada.
Marubeni owns and operates a total gross capacity of around 33,000MW and has net capacity of around 10.000MW across the world.
