Mainstream Renewable Power Leads Global Growth

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Researched by Industrial Info Resources (Sugar Land, Texas)--The former head of Airtricity Holding Limited (Dublin, Ireland) has wasted no time in creating a new company and leading the way in the explosion of renewable energy projects around the world. Eddie O'Connor, CEO and founder of Mainstream Renewable Power (Dublin, Ireland), has not slowed down after selling Airtricity in January of 2008. A month later, he formed Mainstream Renewable Power along with co-founder and former Airtricity Finance Director Fintan Whelan. The new company immediately announced plans to develop and construct renewable energy power plants around the globe.

Mainstream Renewable Power, initially financed by O'Connor, is actively seeking financial investors to expand its wind, solar and tidal power development portfolio. The rapid pace led Mainstream to pursue the lead developer at Airtricity, Torben Anderson, who joined the company in early 2008. Anderson was responsible for securing more than 2,000 megawatts (MW) of offshore wind projects in the U.K., Ireland, Germany and the Netherlands during the six years he was with Airtricity.

By the end of 2008, Mainstream had signed a $1 billion dollar joint venture deal with Andes Energy (Santiago, Chile), creating Andes Mainstream SA, which is seeking to develop 400 MW of wind energy projects in Chile.

North American expansion plans are being led by an advisory board headed by Eagle Energy Partners (Houston, Texas) co-founder Chuck Watson, who will officially leave Eagle Energy on May 1 for Mainstream Renewable Power. The first projects announced in North America are the 46-MW "Old Man River" and the 62-MW "Windy Point" windfarms located in the Pincher Creek area of Alberta, Canada.

The largest Mainstream Renewable project so far is an offshore windfarm located a few miles from Edinburgh, Scotland, called the "Neart na Gaoithe" (Might of the Wind) windfarm. This $1.62 billion dollar project is expected to produce 360 MW when it is completed in 2016. The site was awarded to Mainstream Renewable Power by the Crown Estate, which administers all United Kingdom-owned property, including marine sea beds up to 12 nautical miles from shore.

Mainstream Renewable Power is also expanding into South Africa with a wind project pipeline expected to be in excess of 500 MW. Two recently announced South African projects that the company is developing with its joint venture partner Genesis Eco-Energy (Capetown, South Africa) are the 30-MW Jeffreys Bay windfarm near Port Elizabeth and the 40-MW Colesberg windfarm near Colesberg, Northern Cape.

Mainstream Renewable Power is just one company being monitored by Industrial Information Resources. Information on these projects and others is available at Industrial Info's North American and International Industrial Databases.

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