Mainstream swells Chile coffers
$50m in mezzanine financing backs 300MW equity stakes
Irish developer Mainstream Renewable Power has secured $50m in mezzanine finance to partially fund equity investments in two wind farms in Chile totalling almost 300MW.
Funds managed by affiliates of alternative investment manager Apollo Global Management are providing the cash for the 170MW Sarco and 129MW Aurora wind farms.
Aela Energia owns both sites which are currently under construction. It is a joint venture between Mainstream and Actis.
James McGinnis, chief executive of Mainstream’s financing division, said the cash is secured on the back of the company’s track record in building projects in emerging markets.