MRP boss hails Marubeni link

CEO Eddie O'Connor says the Marubeni deal

CEO Eddie O'Connor says the Marubeni deal "enhances MRP's proposition"

Marubeni’s new relationship with Mainstream Renewable Power will see the Japanese trading house buying equity stakes in many of the projects coming out of the Irish developer’s pipeline in the years ahead.

Marubeni will typically look to buy 20%-50% equity stakes in projects, MRP chief executive Eddie O’Connor tells Recharge.

“They’re not interested in every project we have, but they’re certainly going to be interested in some of them.”

“They’re happy with where we are across [our business], and they particularly like the offshore wind,” he says.

In 2011 Marubeni made its first investment in offshore wind, buying a minority stake in Dong’s Gunfleet Sands project, and it went on to buy UK-based installation specialist Seajacks.

As for MRP, Marubeni’s €100m ($133m) investment – which buys a 25% stake, and comes with Log in to read complete article.

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