IRISH UP WITH ILLINOIS WIND

Irish investor blows into Illinois with $1 billion for wind farm projects; Mainstream Renewable buys 3 farms outside Chicago
Becky Yerak, June 15, 2009 (Chicago Tribune)

"Three Illinois wind farms within 100 miles of Chicago were acquired... by an Irish energy company making its first U.S. investment amid hopes that President Obama's economic stimulus package will bolster the renewable energy business.

"Dublin-based Mainstream Renewable Power bought the assets, which are at various stages of development [from local wind farm developers FPC Services for an undisclosed price] and plans to invest $1.69 billion over four years to fully develop them…The farms have the potential to generate 787 megawatts by 2013."

Mainstream Renewables is in the process of becoming an international wind power. (click to enlarge)

"The most advanced is the 120 megawatt Shady Oaks project in Lee County. When fully built in 2010, it'll generate enough green electricity to power about 30,000 homes…Its construction is expected to employ about 120 people, and ongoing employment for about a dozen people when it begins operating.

"The 467 megawatt Green River project, also in Lee County, is expected to begin construction next year…The 200 megawatt Boone County project is in earlier development stages…"

Illinois has fair winds throughout the state. (click to enlarge)

"The Illinois projects are Mainstream's second North American deal in three months, having earlier announced a Canadian wind farm project. It has also announced plans to build a wind farm in Chile.

"Mainstream was founded in 2008 to develop, build and operate wind energy, solar thermal and ocean current plants by partnering with governments, utility companies, developers and investors across North America, South America, Europe and South Africa…Barclays Capital has a 14.6 percent stake in Mainstream."