Getting to know…Mary Quaney

Tell us a bit about your current role and your career journey that led you to the Energy sector?

My role is Chief Executive of Mainstream Renewable Power, an Irish founded and headquartered renewable energy developer of large-scale offshore and onshore wind and solar PV (Solar Photovoltaics) assets. It is an industry and a company that I enjoy working in every day. Mainstream has led the transition to renewable energy on a global scale. It is a privilege to lead a company committed to making a positive impact in combating climate change with a values-driven culture.

My career started when I joined PwC corporate tax as a graduate. It was an excellent introduction to the corporate world. It gave me an interest in industry that led me to taking a role as Group Tax Manager with Trinity Biotech plc. Around this time, I also followed the pioneering work of Airtricity in the onshore and offshore wind industry. When Airtricity was sold, and Mainstream Renewable Power was founded in 2008, a Group Tax Manager role came up in Mainstream, so I jumped on board.

Over the years I have held various roles and responsibilities which led to my appointment to Group CEO in 2020.

You have recently returned from COP26 where you were part of a group urging governments to take action to achieve a just global energy transition that advances sustainable development through renewable energy jobs. What was your experience there?

I think that the tone of the discussion on renewable energy is consistently and remarkably different to what it was as recently as pre-COVID. Over my 12 years in the renewable energy sector, this is the first time that the focus has moved from the "why", to "what", to now the "how". By that I mean; there is no longer a "why" on questioning climate change and the unsustainable trajectory we are currently on. The "what" has been concluded as countries know "what" needs to be done and have responded comprehensively by setting net-zero targets. Now the focus is on "how" this will be achieved.

Renewable energy is now accepted as being a core element of decarbonisation. The transition of traditional energy systems to renewable energy sources is well understood and in many markets is well underway. Previously coal-dominant countries, such as Vietnam and Indonesia, are now asking us, how do we deploy renewable energy at a greater scale and faster? How do we build local skills, capabilities and supply chain to enable the transition? It was not so long ago that the roles were reversed. Renewable energy developers, such as ourselves, were seeking to convince governments of the role that renewable energy had the potential to play.

COP26 contains meaningful commitments that in many cases exceed expectations although on the whole, the pace of change needs to accelerate. I believe that acceleration in pace will come as further momentum continues to build in the transition. Political leadership is important, but is not the only driver. In many sectors it is a couple of steps behind the momentum in the private sector and in the capital markets.

At Mainstream you focus on the relationship between climate change and social change. How important is this relationship in helping us all play our part in limiting global warming to 1.5 degrees by 2030?

It is essential. The transition to net-zero is a fundamental industrial revolution and it is incumbent on companies like us to deliver societal change. We have a community-focused approach to the development of renewable energy projects. We focus on delivering benefits to our local stakeholders through job creation, fostering local skills and expertise, as well as enabling and supporting local supply chains. Much of the narrative around combating climate change is one of cost and sacrifice; whereas our reality on the ground is about reducing costs to the consumer and providing opportunities in terms of job creation and economic growth.

Reflecting on your professional achievements so far, what makes you most proud?

I'm very proud of my appointment to CEO of Mainstream at a pivotal time and then leading the company through the change in ownership which resulted in the Aker Group acquiring 75% of the company earlier this year. Yet, what makes me most proud is the recognition of the company that Mainstream has grown to today and it's potential for the future. We now have the opportunity to grow at an accelerated rate and the global transition to renewable energy is at a pace of momentum that can support a level of unprecedented growth and delivery.

What do you value most about the alumni network?

For me, the alumni community offers a strong support network. I have many friends, mentors and role models that are always at the end of the phone if I need anything. It also gives me great pride and encouragement to see my former colleagues thrive in their careers, in practice or in industry, home and abroad.

What's next for you?

The energy sector is in a period of remarkable innovation. Our company name, Mainstream Renewable Power, represents the vision that renewable energy would one day become "mainstream". That vision has materialised. The next thing for me is to build on Mainstream's existing position of being the most successful renewable energy player in Chile and South Africa, and to lead the company to become the dominant renewable energy company across all our existing and new markets that we enter.