Mainstream said its new business unit will be used to leverage new financial support from financial instututes and "create custom-made opportunities".
Former invesment banker at Goldman Sachs and Morgan Stanley, James McGinnis has been appointed CEO of Mainstream Renewable Capital — the new division.
"There is a vacuum in the market, with sophisticated investors increasingly looking for responsibly structured exposure to the renewable energy market. We will seek to satisfy some of this unfulfilled demand with … bespoke opportunities … across a diverse fleet of developing and operating renewable power generation assets," McGinnis said.
Mainstream recently won 1GW of power contracts in Chile following auctions. It is also partnering with GE Financial Services to support projects in Vietnam.
"Now is the optimum time to get this off the ground. Over the next five years we have very substantial capital funding requirements to support our build-out programme and significant opportunities for the creation of new investment vehicles for dedicated renewable energy investors," said Mainstream CEO Eddie O'Connor.
