Mainstream Renewable Power Group Lending Ltd, a company used by Mainstream to provide funding to its Chilean entities, was put into liquidation on Wednesday by its parent company.
When a fast-growing French renewable energy developer and one of Ireland’s most recognisable farmers partnered for a large-scale solar farm, local objections escalated quickly.
When it matters, changes can be made in days. Money can be found. Wheels can be turned. When the system wants to do something, it can, and it does. The pandemic mindset needs to turn towards the energy sector.
Irish-founded renewables firm Mainstream is in a $313m debt dispute with Ares Management. The legal row just stepped up a notch.
After borrowing from US-managed funds, the Irish-founded renewable energy developer announced the restructuring of its projects in Chile, triggering allegations that it is trying to evade its responsibility to its lenders. Mainstream describes the allegations as "baseless" and will fight the case.
Talks between the beleaguered renewable energy company and the brokers representing its investors have delivered improved terms described by the law firm acting for brokers as "the best possible outcome".
US legal firm Clark Hill's analysis of Ireland's renewable energy environment finds that the expected lead time for offshore wind farms could potentially double as a result of weaknesses in rules and state agencies due to support their development.
The Irish power management firm is acquiring the energy division of a Nasdaq software firm to grow its American presence and its ability to integrate customers into increasingly complex power networks.
The promoters of the embattled renewable energy firm, its investors and their brokers have paused their court dispute to allow exchanges of information. An accountant's report has set out questions to be answered.
Law firm Crowley Millar has said it is concerned investors might feel under pressure to approve the restructuring scheme proposed by the company and this could “sow seeds of mistrust amongst the investors and the brokers”.
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