MPC Energy Solutions NV
MPC Energy Solutions NV
11/09/2021 | Press release | Distributed by Public on 11/09/2021 02:00
MPC Energy Solutions enters Mexican market with the acquisition of Los Santos Solar I
Amsterdam/Oslo - 09 November 2021 - MPC Energy Solutions (MPCES) has entered the
Mexican renewable energies market with the acquisition of Los Santos Solar I.
The solar photovoltaic (PV) project, located in Ahumada, Chihuahua, in the North
of Mexico, is fully operational since 2017 and has an installed capacity of 15.8
MWp. The project is included in MPCES's communicated advanced backlog.
"The acquisition of Los Santos Solar I marks our entry into the Mexican
renewables market, further strengthening our regional presence which now spans
six countries across Latin America and the Caribbean. This deal is another
confirmation that we are on track to deliver on our project pipeline, implying
177 MW installed capacity and USD 40 million of asset-level revenue by the end
of 2023. It reinforces our position as a leader in the region's renewable energy
market with close to 11,000 MW of installed wind and solar PV capacity and
potential for further growth given the abundance of resources and demand for
clean energy from the private and public sectors," said Martin Vogt, CEO at MPC
Energy Solutions.
The project, which was financed and built by multinational renewable energy
project developer Buenavista Renewables (BRV), has a USD-denominated Power
Purchase Agreement (PPA) with German cable manufacturer Leoni Cable and the
International De La Salle Educational Network. MPC Energy Solutions has acquired
full ownership of the project and 20-year project financing has been provided by
the U.S. Government's Development Finance Corporation (DFC) and the North
American Development Bank (NADB). The closing of the acquisition is expected to
take place in Q1 2022 and is subject to customary conditions.
Los Santos Solar I has the potential to be extended from 15.8 MWp to
approximately 90 MWp and MPC Energy Solutions has signed a Right of First
Refusal (ROFR) agreement with the developer. The extension may be ready-to-build
in 2023. The plant avoids approximately 16,500 metric tons per year of CO2
emissions.
Martin Vogt added: "Los Santos Solar I is a high-quality asset with solid
private corporate clients and an attractive USD-denominated PPA in place. As an
operational asset, this project provides the company with immediate cash flows
while securing exclusive rights on the future project extension. It further
boosts the returns we can offer our investors while assisting us in our mission
to help the region's transition to cleaner energies."
- ENDS -
About MPC Energy Solutions
MPC Energy Solutions ("MPCES") is a global provider of sustainable energy and
primarily focuses on low-carbon energy infrastructure, including solar and wind
assets, and other hybrid and energy efficiency solutions. The Company
participates in the full project lifecycle of renewable solutions, from early
-stage development through construction and operation. More details at www.mpc
-energysolutions.com
Media contacts
MPC Energy Solutions N.V.
Investor Relations & Public Relations
Email: [email protected]
Norway
Jo Christian Lund-Steigedal
Corporate Communications AS
Phone: +47 415 08733
Email: ([email protected])[email protected]
Americas
Perry Goldman
Montieth & Company
Phone: +1 (646) 8643568
Email: [email protected]
United Kingdom
Charles Font
Montieth & Company
Phone: +44 020 38575478
Email: [email protected]
Mexican renewable energies market with the acquisition of Los Santos Solar I.
The solar photovoltaic (PV) project, located in Ahumada, Chihuahua, in the North
of Mexico, is fully operational since 2017 and has an installed capacity of 15.8
MWp. The project is included in MPCES's communicated advanced backlog.
"The acquisition of Los Santos Solar I marks our entry into the Mexican
renewables market, further strengthening our regional presence which now spans
six countries across Latin America and the Caribbean. This deal is another
confirmation that we are on track to deliver on our project pipeline, implying
177 MW installed capacity and USD 40 million of asset-level revenue by the end
of 2023. It reinforces our position as a leader in the region's renewable energy
market with close to 11,000 MW of installed wind and solar PV capacity and
potential for further growth given the abundance of resources and demand for
clean energy from the private and public sectors," said Martin Vogt, CEO at MPC
Energy Solutions.
The project, which was financed and built by multinational renewable energy
project developer Buenavista Renewables (BRV), has a USD-denominated Power
Purchase Agreement (PPA) with German cable manufacturer Leoni Cable and the
International De La Salle Educational Network. MPC Energy Solutions has acquired
full ownership of the project and 20-year project financing has been provided by
the U.S. Government's Development Finance Corporation (DFC) and the North
American Development Bank (NADB). The closing of the acquisition is expected to
take place in Q1 2022 and is subject to customary conditions.
Los Santos Solar I has the potential to be extended from 15.8 MWp to
approximately 90 MWp and MPC Energy Solutions has signed a Right of First
Refusal (ROFR) agreement with the developer. The extension may be ready-to-build
in 2023. The plant avoids approximately 16,500 metric tons per year of CO2
emissions.
Martin Vogt added: "Los Santos Solar I is a high-quality asset with solid
private corporate clients and an attractive USD-denominated PPA in place. As an
operational asset, this project provides the company with immediate cash flows
while securing exclusive rights on the future project extension. It further
boosts the returns we can offer our investors while assisting us in our mission
to help the region's transition to cleaner energies."
- ENDS -
About MPC Energy Solutions
MPC Energy Solutions ("MPCES") is a global provider of sustainable energy and
primarily focuses on low-carbon energy infrastructure, including solar and wind
assets, and other hybrid and energy efficiency solutions. The Company
participates in the full project lifecycle of renewable solutions, from early
-stage development through construction and operation. More details at www.mpc
-energysolutions.com
Media contacts
MPC Energy Solutions N.V.
Investor Relations & Public Relations
Email: [email protected]
Norway
Jo Christian Lund-Steigedal
Corporate Communications AS
Phone: +47 415 08733
Email: ([email protected])[email protected]
Americas
Perry Goldman
Montieth & Company
Phone: +1 (646) 8643568
Email: [email protected]
United Kingdom
Charles Font
Montieth & Company
Phone: +44 020 38575478
Email: [email protected]