Mainstream Renewable Power is aiming to overcome the barriers to accessing project capital by launching a new business venture.
Mainstream Capital is a new platform targeted specifically at pension funds and insurance companies that want to include investments in renewable energy projects in their portfolios. The move will improve Mainstream's access to capital as well as reduce the cost of capital, said Eddie O'Connor, CEO of Mainstream.
Mainstream has a renewable project portfolio of over 19 000 MW across four continents and says that its size and track record of project delivery affords it the ability to set up its own platform. However, access to capital in the pre-construction phase of a project can still be "tough", the firm said in a statement.
"We have built a credible business," said O'Connor. "When you get this big, there is an exercise in corporate branding in the sense that people know that we know what we're doing. We have a great track record and our projects allow pension funds and insurance companies to take a sensible outlook over a 20-year period."