Mainstream Renewable Power appoints North American Leader

06 August 2009

Mainstream Renewable Power, the global renewable energy company, has announced the appointment of Adrian LaTrace as chief executive of North America operations. LaTrace is the former vice president and general manager of Acciona Windpower North America. The appointment follows the company’s recent acquisition of a portfolio of wind farm projects in the state of Illinois with a potential capacity of 787 megawatts.  It is expected these projects will be fully operational by 2013 and will produce enough power to supply almost 200,000 homes in the U.S. 

Commenting on the appointment, Mainstream’s Chief Executive Officer Eddie O’Connor said, “We are witnessing the beginning of a meaningful diversification in the U.S. to incorporate clean energy sources for new power generation. Adrian has the right experience and the entrepreneurial spirit to help Mainstream Renewable Power drive the transition from fossil fuels to renewable wind energy. North America needs to develop its large-scale wind resources to capitalize on the long-term, sustainable benefits for utilities, economies and ultimately for consumers. More wind energy means lower energy bills; it’s as simple as that.”

LaTrace has more than 25 years of management experience in the wind energy, aerospace and electronics industries. In his role as vice president and general manager of Acciona Windpower North America, LaTrace had direct responsibility for business development, manufacturing operations, supply chain management, installation/commissioning and O&M services. LaTrace helped establish Acciona’s wind turbine manufacturing business in North America by leading the site selection, construction, and staffing of Acciona’s first wind turbine manufacturing facility in the U.S. His team built three wind farm projects in the U.S. totalling more than 400 megawatts. LaTrace has been a strong advocate for the industry on the benefits of wind power for the North American economy and environment.
 
“The biggest risk facing global utilities today is price uncertainty for commodities such as fuel,” LaTrace commented. “Mainstream’s experience and strong track record of funding and developing large-scale wind projects around the world makes us an ideal partner for utilities to help build out new wind capacity. Increasing the amount of indigenous, renewable energy to the generation mix provides a hedge against fuel price volatility, and has proven to drive down costs of the overall system. Utilities then can pass those savings onto consumers, decreasing their electricity bills.”
 
Mainstream’s business model involves selling operational wind farm assets to utilities, which LaTrace believes offer a natural home for these cash generating assets.
 
“It benefits them in three ways; first, it allows them to comply with either state or federal laws to increase the portion of renewable energy in their generation mix. Secondly, it offers a hedge against carbon-reduction compliance. Thirdly and most critically, because the fuel cost is fixed at zero, it replaces the more expensive fossil fuel generation and simultaneously reduces the demand for and price of fossil fuels,” said LaTrace. “We’ve researched extensively on the value of wind to generation systems and the conclusion is more wind means less cost.”

For more information contact:
Niamh McGrath, Mainstream Renewable Power
Telephone: +353 1 290 2013
Mobile: +353 87 641 6831
Email: niamh.mcgrath@mainstreamrp.com

Olivia Mata, Edelman
Telephone: +1 312 240 2913
Mobile: +1 773 531 7908
Email: olivia.mata@edelman.com

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