Mainstream Renewable Power

This week we announced the sale of our 675 MW portfolio of wind and solar assets in Colombia to local energy company, Celsia Energía. The transaction aligns with the company’s updated and more focused strategy; concentrating on developing our pipeline of projects primarily in three core markets and creating value through strong project execution, a lean cost base and capital efficiency, including capital recycling. Our General Manager LATAM, Manuel Tagle said: “The recycling of cash through divestments such as this is a core pillar of our strategy, which is ed by our shareholders through our new funding arrangements. In addition to that, this deal demonstrates the market’s confidence in the quality of the projects developed by Mainstream, which have been executed to our in-house Global Development Standard.” Ricardo Sierra, CEO of Celsia said: “At Celsia, we are committed to continuing to drive the energy transition in Colombia, to the point that we hope to have 1,000 megawatts of non-conventional renewable energy in operation by 2027. Today, we have 339 MW and another 300 MW under construction. This Mainstream Renewable Power portfolio fits very well with ours, especially given its location and stage of development, in addition to the confidence we gain from the experience and rigor in the design and development of wind and solar projects from this global company.”

Arven, our floating offshore wind project we are developing in partnership OW Ocean Winds, is proud to Offshore Renewable Energy Catapult’s Fit 4 Offshore Renewables (F4OR) Islands and Coastal Communities programme!   🚀 Twelve businesses — from Shetland to the Western Isles — have been selected to take part, highlighting the depth of talent in Scotland’s island economies and their growing role in the offshore wind #supplychain.   This initiative is about unlocking the already-existing local potential — equipping island and coastal businesses with the tools they need to enhance their capabilities in a rapidly growing sector, allowing them to scale, compete and thrive.

Our 2.5 GW Mareld floating offshore wind farm in Sweden has been granted the Natura 2000 Permit https://lnkd.in/eB2Dtc4k

Mainstream is pleased to announce the appointment of new Group CEO, Morten Henriksen, effective April of this year.    Mainstream’s Chairman, Kristian Røkke: “We would like to express our gratitude to Mary Quaney for her leadership over the last five years. She has guided Mainstream’s global team with focus, resilience and integrity, navigating a period of industry-wide transformation.” He continued: “As we enter a new phase, Morten brings extensive experience and deep sector expertise to position Mainstream for growth. His leadership will be instrumental in executing the Company’s strategy and driving Mainstream’s growth in the global energy market.” Morten Henriksen: “Mainstream is well positioned for the opportunities ahead. I am very excited about implementing our vision to build a lean and focused renewable energy company, leading in our core markets and creating value through strong project execution, a lean cost base and capital efficiency.” https://lnkd.in/dfwRTzXz

Congratulations to our team in South Africa on gaining Top Employer accreditation for the third consecutive year!   We’re especially proud of their achievement considering we are the smallest company, and one of the very first renewable energy companies, in South Africa to be accredited.

🎉This week we officially opened our new Melbourne office in #Australia! 👏 🏢 Mainstream’s CEO, Mary Quaney, CFO Julie Berg and Chairman Kristian Røkke welcomed Ambassador of Ireland, His Excellency Mr Tim Mawe, Ambassador of Norway, Her Excellency Ms Anne Grete Riise and Mr Tokuro Furuya, Consul-General of Japan.  📢Mary spoke of the role Mainstream, along with our partners will have in helping Australia make its transition from fossil fuels to renewable energy. The government has put in place clear and ambitious commitments to reaching net zero by 2050 and achieving 82% renewable energy by 2030. 🤝With our solid track record of working with communities, governments and partners around the world, and a growing pipeline of projects in this promising market, we’re excited to bring the benefits of our experience and to deliver the renewable energy Australia needs. Eduardo H. Karlin Greg Politakis Amy Lane Randal Barker Louise M. Liz Thom Fiona Riley Byron Trichardt Xuan Ru Koh Sarah-Anne Butler

Having taken the Neart na Gaoithe project from initial inception all the way through its development process, we are thrilled to see it has now started generating power! We’re proud of the role we played in getting this project construction-ready, including: 1.     Winning the original development rights 2.     Conducting an in-depth community consultation programme 3.     Obtaining grid connection 4.     Securing the necessary onshore and offshore planning consents 5.     Winning the Contract for Difference Huge congratulations to both EDF Renewables UK & Ireland and their partners ESB for bringing the project to this important stage, building on the work that our own fantastic team carried out during the long pathway through development. Read more about Mainstream’s contribution to this significant offshore wind project here: https://lnkd.in/eG8N2Nbg Bernard Casey Aidan Guinan Ewan Walker Rosie Scurr

🔊 We’ve secured the grid connection for our 1.1 GW floating offshore wind farm in South Korea!🎉 ✍At a g ceremony held today in Ulsan, South Korea, Mainstream and OW Ocean Winds t venture, Korea Floating Wind, reached another milestone with the g of a Transmission Service Agreement (“TSA”) with Korea Electric Power (KEPCO) for the full project capacity of 1,125 MW. This follows quickly after we announced in August that the two-phase project secured its Environmental Impact Assessment approval from the Ministry of Environment.    The first phase, called East Blue Power (375 MW) has also competed its geo-technical survey, providing crucial insights into seabed conditions that will guide the future location of the wind turbines, the design of the floating foundations for the turbines and the offshore substation, as well as the planning of the submarine cable routes.   These recent announcements are significant steps forward. 🙌Well done to all the teams involved in delivering KF Wind closer to construction.   KF Wind is part of the Ulsan Floating Offshore Wind Farm cluster. When fully operational, the cluster will total around 6 GW, and will be the world’s largest floating offshore area.     👀 Read the full press release: https://lnkd.in/eVBWXqg6 Pictured (from left): Byung-Joon Samuel Kil-Lim (PMO Manager for KFW), Guzman Figar (Country Manager of OW Korea), Austin Park (Project Director for KFW), Filip Meuleman (Technical Director for KFW), Ken Oh (Electrical Senior Manager), Leif Holst (SVP Project Development at Mainstream Renewable Power), Nicolay Bergli Alexandersen (Lawyer for KFW). Leif Holst Nicolay Bergli Alexandersen Austin Park Guzman Figar Byung-joon Samuel KIL-LIM Ken Oh Filip Meuleman Tove Røskaft Kelly Penot-Rousseau

Our CEO, Mary Quaney addresses Vietnam’s General Secretary and President, Mr. Tô Lâm on his State visit to Ireland and spoke about Mainstream’s offshore wind projects in Vietnam. Last week, His Excellency, Mr. Tô Lâm, and a delegation of Ministers and Deputy Ministers from a range of Government departments, attended a Business Forum, organised by Enterprise Ireland, as part of their State visit to Ireland. Mainstream has two offshore wind farms in development in Vietnam: 🌬Phu Cuong Soc Trang offshore wind project (1.4 GW) is being developed in partnership with the Phu Cuong Group and spans both shallow-water nearshore and deep-water offshore sea areas.  The first phase, the nearshore 200 MW site has completed all site studies and is ready to build, with the potential to be in operation by 2027.   🌬Ben Tre offshore wind project (500 MW) is being developed in partnership with AIT Group and is the most advanced offshore wind project in Vietnam. The project is capable of delivering offshore wind energy before 2030 under the government’s ambitious ‘Power Development Plan 8 (“PDP8”) and has: 🔍>2 years of high-quality wind measurement data gathered from a purpose-built offshore LiDAR 40km from the shore, 🔬completed pre-feasibility and UXO surveys, 📍geotechnical investigations underway.   🙏With thanks to Enterprise Ireland Asia and IDA Ireland for including Mainstream on this important occasion.  

⚡ Our 50 MW Ilikwa solar plant in South Africa will provide power to multiple private commercial and industrial customers from early 2026. Power from the plant will supply customers under flexible, shorter-term Power Purchase Agreements (#PPAs) in a new-to-market product called Renewable Energy Supply Agreements (#RESAs).    ☀️ This new product gives customers a better alternative to their current electricity supply by offering access to affordable, reliable and renewable power under shorter-term contracts of between 5-10 years.    Last week, we announced financial close of our Ilikwa solar park, marking our second solar plant with private PPAs to reach financial close within the last year. 🛠️ We have 12 GW of well-advanced projects in South Africa and 180 MW ready to build next year.    👏 We applaud the South African Government for enabling this new product by relaxing licencing to allow for the acceleration of private renewable energy integration. In doing so, it will help alleviate pressure on the country’s electricity grid and help meet its net zero commitments. Read more about the announcement here: https://lnkd.in/d-x8SjBa Mainstream Renewable Power South Africa Investec Corporate and Investment Banking