DNB, HSBC finance Trade Finance Facility for Mainstream Renewable Power

Thursday 17 January 2019 10:22 CET | News

Ireland-based wind and solar power plants developer Mainstream Renewable Power, has closed a EUR 90 million Trade Finance Facility with DNB and HSBC.

The agreement represents one of the largest corporate debt raises in Mainstreams history and will be used in addition to Mainstreams existing resources to support bid bonds, performance bonds, and equity commitments for Mainstreams projects globally.

The EUR 90 million 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 EUR 200 million, subject to approval. Mainstream expects the first use under the new facility will be to support the Groups 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.

Mainstream has raised more than EUR 1.8 billion in project finance to date and employs 200 staff across four continents. The company has developed the worlds largest offshore wind projects; the Hornsea 1 and Hornsea 2 projects in the UK.

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Keywords: DNB, HSBC, Mainstream Renewable Power, investment, financing, lending, Ireland, Trade Finance Facility, trade finance, corporate debt
Countries: World