New corporate debt facility will accelerate international growth
Mainstream Renewable Power, the leading global developer of wind and solar power plants, has today announced the closure of a new EUROS90 million Trade Finance Facility with DNB and HSBC. The agreement represents one of the largest corporate debt raises in Mainstream's history and will be used in addition to Mainstream's significant existing resources to support bid bonds, performance bonds, and equity commitments for Mainstream's projects globally.
The EUROS90m Trade Finance Facility is funded equally by DNB and HSBC. Mainstream has the option to bring new lenders into the Trade Finance Facility to allow an increase in size to EUROS200 million, subject to approval. Mainstream expects the first use under the new facility will be to support the Group's equity commitments to construct the 569MW Condor Portfolio in Chile, which is the first phase of its wholly-owned 1.3 GW Andes Renewables Platform of fully contracted wind and solar projects.
