- Companies
- Mainstream Renewable Power
Mainstream Renewable Power Acquisition, Valuation, Funding & Investors
Mainstream Renewable Power was acquired by A.P. Moller Capital in June 2026.
Mainstream Renewable Power acquisition price
Undisclosed
Acquired by A.P. Moller Capital · Jun 2026
Cumulative funding Mainstream Renewable Power raised
$871M
across 3 funding rounds
Key investors in Mainstream Renewable Power
Mitsui & Co
Marubeni
Metier Private Equity
Aker Horizons
About Mainstream Renewable Power
Mainstream Renewable Power is a Dublin-headquartered developer of wind and solar projects across Africa and Latin America. The company has commissioned 800 MW of assets including the 100 MW Tsau Wind Farm in Botswana and 180 MW Midelt Solar Project in Morocco. Mainstream manages a 10 GW pipeline, with 1.5 GW under construction in Chile and South Africa. Sold to Aker Horizons in 2021, the firm employs 300 staff and partners with local governments on energy transition initiatives. Founded in 2008 in Sandyford, Dublin.
Founded
2008
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Product sales
Valuation
$2.4B (Mar 2022)
Mainstream Renewable Power Acquisition
Mainstream Renewable Power was acquired by A.P. Moller Capital for an undisclosed price on 16 June 2026.
Before the acquisition Mainstream Renewable Power had raised $871M across 3 funding rounds.
A.P. Moller Capital, through its Emerging Markets Infrastructure Fund II, agreed in June 2026 to acquire 100% of Mainstream Renewable Power South Africa from Mainstream Renewable Power. Financial terms were not disclosed. The transaction is expected to complete by the end of 2026, subject to customary regulatory approvals. Mainstream South Africa is an established renewable energy developer and independent power producer with 148 MW of operating or in-construction capacity, 351 MW of construction-ready projects, and a development pipeline of about 11.6 GW across solar, wind and battery storage. The sale is part of Mainstream Renewable Power's strategy of sharpening its focus on fewer core markets, with the South African platform set to benefit from a dedicated infrastructure investor.
| Acquirer | Date | Type |
|---|---|---|
| 16 Jun 2026 | PE buyout |
Sources: mainstreamrp.com, globenewswire.com, mercomcapital.com
Mainstream Renewable Power Valuation
Mainstream Renewable Power is currently valued at $2.4B, based on its strategic investment round in March 2022.
The $637M round was led by Mitsui & Co.
Mainstream Renewable Power's valuation has grown 5.3x from $460M at its strategic investment round in August 2013 to $2.4B in March 2022, across 3 priced rounds.
Mainstream Renewable Power valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2022 | Strategic investment | $2.4B |
| Nov 2021 | Strategic investment | $1B |
| Aug 2013 | Strategic investment | $460M |
Mainstream Renewable Power Funding History
Mainstream Renewable Power has raised a total of $871M across 3 funding rounds.
Mainstream Renewable Power's first fundraising round was a $133M strategic investment round in August 2013. The most recent completed round was a $637M strategic investment round in March 2022.
Mainstream Renewable Power funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2022 | Strategic investment | Mitsui & Co (lead) | $637M | $2.4B | Mainstream Renewable Power is a Dublin-based global renewable energy company founded in 2008 by Irish energy entrepreneur Eddie O'Connor, with a 14-year track record in developing, building, and operating wind and solar generation assets across Latin America, Africa, Asia-Pacific, and Europe. The company is a pure-play renewable energy developer that has delivered 6.5 GW of assets to financial close-ready, including the Hornsea zone, the world's largest offshore wind farm in operation. On March 24, 2022, Mitsui & Co. agreed to invest €575 million in Mainstream Renewable Power in the form of new common shares, corresponding to a 27.5 percent equity stake. This transaction valued Mainstream at approximately €2.1 billion on a 100 percent basis. The investment was expected to close in April 2022. Mitsui joined Aker Horizons as a long-term strategic investor, with Aker retaining a 54.4 percent stake and founder Eddie O'Connor along with Irish retail investors holding the remaining 18.1 percent. The investment was intended to accelerate Mainstream's expansion across multiple markets and product lines, including its portfolio of wind and solar energy, battery storage, power trading, green ammonia, and green hydrogen production. The three companies stated jointly that they would continue developing Mainstream towards an initial public offering. Mitsui's participation brought complementary geographic footprint, global customer networks, and industrial capabilities to support Mainstream's ambition to become a renewable energy major and develop 25 GW of energy assets over the following decade. |
| Nov 2021 | Strategic investment | Aker Horizons (lead) | $102M | $1B | Mainstream Renewable Power is a leading independent renewable energy developer specializing in onshore and offshore wind and solar projects across Latin America, Africa, and Asia-Pacific. At the time of the deal, it had 0.2 GW of projects in operation, 1.4 GW under construction, and a development pipeline of around 10-11 GW, with plans to bring 5.5 GW to financial close by 2023. The company has demonstrated strong development capabilities, including recent financings like a US$280 million facility for solar projects in Chile and awards for 1.27 GW of wind and solar in South Africa. In January 2021, Aker Horizons agreed to acquire a 75% stake in Mainstream Renewable Power, valuing the company at €900 million on a 100% basis (some sources cite €1 billion). The transaction, funded through Aker commitments and facilities totaling €510 million, closed in Q2 2021 and positioned Aker Horizons for growth in green energy, including plans for an IPO within three years. Aker Horizons participated pro rata in subsequent equity raises, such as €90 million in Q4 2021 to support new market entries. Post-acquisition, Mainstream expanded its pipeline to about 13.4 GW, secured milestones like investment decisions for 200 MW of a 1.4 GW offshore wind farm in Vietnam, and sold its Aela platform in Chile. The deal integrated with Aker's ecosystem for hybrid projects and market expansion, though later reports noted challenges including a €670 million net loss in one year due to impairments in Chile. |
| Aug 2013 | Strategic investment | Marubeni (lead); Metier Private Equity | $133M | $460M | Mainstream Renewable Power, founded in 2008 by Eddie O’Connor in Dublin, Ireland, is an independent developer of renewable energy projects including offshore and onshore wind and solar power, with a global portfolio exceeding 19,000MW across countries like Ireland, UK, Germany, South Africa, Chile, USA, and Canada. The company focuses on project development stages such as securing land, wind analysis, and obtaining approvals, and was constructing wind and solar farms in Ireland, South Africa, Chile, and Canada as of 2013. Notable projects included the 6,000MW Hornsea offshore wind project in a joint venture with Siemens Financial Services, the 450MW Neart na Gaoithe offshore project in Scotland, and a US$1.4 billion joint venture with Actis for 600MW of wind and solar in Chile, plus over 5,000MW development portfolio in South Africa. In August 2013, Marubeni Corporation announced an equity investment of up to €100 million (approximately US$133 million) in Mainstream Renewable Power, acquiring approximately 25% stake and becoming the second largest shareholder subject to approval, which closed in October 2013 with Marubeni as the largest institutional investor with a significant minority stake. The investment comprised €20 million at closing and €80 million committed over 18 months, aimed at accelerating Mainstream’s project portfolios, funding build-outs, enabling asset ownership, and entering new markets. Marubeni, a Japanese trading company with a global power asset portfolio of about 10,000MW and interests in renewables like UK offshore wind, sought to leverage Mainstream’s development expertise for growth in IPP projects. The deal represented the largest single equity investment in Mainstream since its founding and formed a long-term strategic alliance, complementing strengths in development, construction, operation, and market entry. Mainstream’s CEO described it as a game-changer and major vote of confidence. |
Who has invested in Mainstream Renewable Power?
4 investors have backed Mainstream Renewable Power across its funding rounds, including Mitsui & Co, Marubeni, Metier Private Equity and Aker Horizons.
Lead investors include Mitsui & Co, Aker Horizons and Marubeni.
Mainstream Renewable Power Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Nov 2021 | ||
| 1 | Lead | Aug 2013 | ||
This data is available for Pro users. Sign up to see all 4 Mainstream Renewable Power investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialMainstream Renewable Power Competitors
Mainstream Renewable Power competitors include listed companies like Auren Energia, Pertamina Geothermal, ReNew and Verbio, and private ones like Enel Green Power Hellas and Montana Renewables.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $2.6B | $673M | $2.4B | 2.9x | ||
| Publicly listed | $433M | $326M | $2.5B | 5.7x | ||
| Publicly listed | $1.4B | $976M | $2.5B | 6.2x | ||
| Publicly listed | $1.8B | ($59M) | $2.3B | 1.2x | ||
| Private | - | - | $2.3B | - | ||
| Private | - | - | $2.3B | - |
Mainstream Renewable Power Public Comps
Mainstream Renewable Power is no longer listed, but its public comps include Bangchak Corporation, LandBridge, Renewables Infrastructure Group, Andersons, Equatorial Energia Pará, Auren Energia, Cadeler, Headwater Exploration, Pertamina Geothermal and BKV Corporation.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $15B | $839M | 0.4x | 0.4x | 8.0x | 3.3x | |||
| $199M | $126M | 17.1x | 14.5x | 27.2x | 16.2x | |||
| ($167M) | $344M | (14.3x) | 12.4x | 6.9x | - | |||
| $11B | $315M | 0.3x | 0.3x | 10.5x | 8.0x | |||
| $2.2B | $595M | 1.6x | - | 6.0x | - | |||
| $2.6B | $673M | 2.5x | 2.9x | 9.7x | 10.2x | |||
| $714M | $479M | 5.8x | 4.2x | 8.7x | 7.7x | |||
| $443M | $234M | 5.2x | 5.3x | 9.8x | 7.6x | |||
This data is available for Pro users. Sign up to see all Mainstream Renewable Power competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Mainstream Renewable Power
| When was Mainstream Renewable Power founded? | Mainstream Renewable Power was founded in 2008. |
| Where is Mainstream Renewable Power headquartered? | Mainstream Renewable Power is headquartered in Dublin, Ireland. |
| Is Mainstream Renewable Power publicly listed? | No, Mainstream Renewable Power was acquired by A.P. Moller Capital in June 2026. |
| Who acquired Mainstream Renewable Power? | Mainstream Renewable Power was acquired by A.P. Moller Capital in June 2026. |
| What is Mainstream Renewable Power's valuation? | Mainstream Renewable Power was last valued at $2.4B in its strategic investment round in March 2022. |
| How much funding has Mainstream Renewable Power raised? | Mainstream Renewable Power has raised $871M across 3 funding rounds. |
| What was Mainstream Renewable Power's last funding round? | Mainstream Renewable Power's last funding round was a $637M strategic investment round in March 2022, led by Mitsui & Co. |
| Who are Mainstream Renewable Power's investors? | Mainstream Renewable Power's investors include Aker Horizons, Marubeni, Metier Private Equity and Mitsui & Co. |
| Which companies are comparable to Mainstream Renewable Power? | Companies comparable to Mainstream Renewable Power include Auren Energia, Pertamina Geothermal, ReNew, Verbio, Enel Green Power Hellas and Montana Renewables. |
See companies similar to Mainstream Renewable Power
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




