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Mainstream increases trade finance facility to support renewables build-out

Mainstream Renewable Power Ltd. increased its trade finance facility to €200 million, according to an Oct. 15 statement from the renewables developer.

The €110 million increase was led by Dutch bank ABN AMRO with a panel of international insurance companies acting as sureties. The original agreement for a €90 million facility in 2018 was with DNB and HSBC.

The company plans to use the facility to support bid bonds, performance bonds and equity commitments throughout the group.

In the first instance, Mainstream expects the facility to help support its equity commitments for the construction of its $1.65 billion Andes Renovables portfolio in Chile, where it owns 1.3 GW of fully contracted wind and solar projects.