Bloomberg News

Mainstream Renewable Power Raises 40 Million Euros in Loan Notes

January 16, 2012

Jan. 15 (Bloomberg) -- Mainstream Renewable Power Ltd. raised 40 million euros ($50.7 million) in loan notes as it seeks an additional 100 million euros to fund its business plan, the company said today in an e-mailed statement.

“The company is also finalizing an equity fundraising, 13 million euros of which has already been invested by Irish high- net-worth individuals through NCB Stockbrokers,” Mainstream Renewable Power said.

Further funds from institutional investors, when combined with the money already raised, will provide 100 million euros in capital to fully fund the current business plan, Mainstream said in the statement.

--Editors: Alex Devine, Dan Weeks

To contact the reporter on this story: Colm Heatley in Belfast at cheatley@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net


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