After conducting a strategic review of its business, global wind and solar company Mainstream Renewable Power has decided to expand its existing business unit which delivers tailor-made wind and solar projects directly to large end-users. The company’s pre-existing business model has been market-led, building large portfolios of wind and solar projects in selected countries. This strategy has established Mainstream as the world’s leading independent offshore developer and a market leader in South Africa and Chile, where it will continue to build its portfolios.
In response to long-term market trends, the company has reassessed that strategy and will now focus on delivering projects around the world for large corporations. It will source, develop, build, operate and maintain and sell the assets for these large end-users.
Mainstream has already proven this business model by selling constructed wind farms in Europe and North America to global companies who have decided for cost, environmental, and long-term price stability reasons that owning renewable energy generation makes strong business sense. Mainstream has identified this customer-focused approach as a key growth area for the business.
Speaking about the company’s new growth area, Andy Kinsella, Mainstream’s Chief Operating Officer said: “The key difference is, rather than being geographically led we are now being customer led, and we are very excited about this new approach. Delivering renewable energy projects for large end-users is not a new concept for Mainstream as we already do this, and after reviewing global trends in renewable energy we believe it is the key to our future growth.”
He continued: “Wherever in the world a customer wants a wind and solar project, we will find the best fit and deliver a bespoke generation facility to the highest standards, as we have done numerous times in the past. It may involve greenfield development or acquiring partially developed projects and bringing them through construction and into commercial operation.”
He concluded: “Importantly, this new approach is fully aligned with our existing vision and mission, and builds on the company’s existing competitive strengths in wind and solar project development, finance, construction and operation and maintenance. What we deliver isn’t new; but our approach to delivering it is.”
This new strategic approach means the company is now less focused on building large development pipelines in a small number of markets and more focused on meeting customer needs across a wider geographical area. The company is reviewing its resource needs across the business as roles become more mobile and less market specific.