Mainstream Renewable names Mary Quaney as new chief executive

Ms Quaney, who joined the company in 2009, has served as chief financial officer since 2017

Mainstream Renewable Power’s incoming chief executive Mary Quaney.

Mainstream Renewable Power’s incoming chief executive Mary Quaney.

 

Mainstream Renewable Power, the wind and solar energy group founded by Eddie O’Connor, has appointed Mary Quaney as its new chief executive.

Ms Quaney, the company’s chief financial officer since 2017, succeeds Andy Kinsella, who led Mainstream for the past four years.

Mr O’Connor said she brings significant experience and a record of success that will be critical as Mainstream continues to grow.

Ms Quaney joined Mainstream in 2009 and was appointed to its board of directors last year.

Prior to joining the company she held senior-level positions in finance and corporate tax in PricewaterhouseCoopers and Trinity Biotech.

Mainstream hired investment bank Rothschild last December to find an equity partner to help finance the development of its pipeline of projects.

Mr O’Connor owns 55 per cent of the business. Management and a group of high-net-worth individuals, most of whom first invested in 2008, hold the remainder.

Mainstream currently has about 1,900 megawatts (MW) of projects in construction or on the cusp of being built across Chile, Egypt, Senegal and South Africa – the equivalent of about a quarter of peak demand for electricity in the Irish market.

It has an additional development pipeline of almost 10,000MW of projects at various stages in countries including Vietnam, the Philippines, Australia and Colombia.