Irish energy group Mainstream Renewable Power has raised €40 million to help fund projects in Ireland, South Africa and Chile.
The three-year loan notes were raised by Dolmen Stockbrokers from Irish high net-worth individuals and institutions.
Mainstream is also finalising an equity fundraising of €100 million to fully fund its business plan.
Already, €13 million has been invested through stockbroker NCB. The funds are being used to finance the company’s international expansion. In December 2011, Mainstream won 238 megawatts of contracts in South Africa’s first procurement round for renewable energy.
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Chief executive Eddie O’Connor said Mainstream has “aggressive growth plans” and the fundraisings underpinned “confidence in our business”.
