Former Airtricity chief executive Eddie O'Connor has outlined plans for his new renewable energy company, called Mainstream.
The Dublin-based company plans to develop, build and operate a range of renewable energy plants across Europe, the US, South America and Australia. It says it expects to have 200 megawatts of power built by 2010.
Dr O'Connor has invested €30m in the new company and announced today that he would also seek to raise €200m from September to further fund the company's expansion plans.
Mainstream says its business will include wind energy, solar thermal and ocean current plants. It says it will form partnerships with governments, utility companies, developers and investors in both established and emerging markets.
The company has appointed Fintan Drury as chairman of its board, which also comprises Sir Roy Gardner, former head of Centrica, and Brendan Halligan of Sustainable Energy Ireland. Fintan Whelan, formerly of Airtricity, has joined the senior management team as chief financial officer while Torben Andersen, also formerly of Airtricity, will be chief development officer.
