MPC Energy Solutions primarily focuses on low-carbon energy infrastructure, including solar and wind assets, and other hybrid and energy efficiency solutions.
MPC Energy Solutions completes acquisition of Combined Heat & Power (CHP) plant in Puerto Rico
Amsterdam/Oslo– 22 March 2022 – MPC Energy Solutions (MPCES) is proud to announce the completion of the acquisition of its Neol CHP plant, a 3.4 MW Combined Heat and Power (CHP) plant in Caguas, Puerto Rico. The USD 9 million investment was pending the completion of the construction phase. The plant is majority-owned by MPC Energy Solutions and is now generating its first kWhs with a long-term Power Purchase Agreement (PPA) in place to supply Neolpharma Inc., a pharmaceutical company.
Martin Vogt, CEO at MPC Energy Solutions, said: “The commissioning of Neol CHP is another important step in terms of executing on our project pipeline and a demonstration of MPC Energy Solution’s commitment to Puerto Rico. The territory has an ambitious target to transition to 100% renewable energy by 2050. Projects such as the Neol CHP power plant are a part of that transition.”
Energy production from the Neol CHP plant is expected to be 26,000 MWh per year. Having a dedicated power source will enable Neolpharma to benefit from a stable supply and reduced thermal energy consumption, resulting in substantial environmental benefits. The plant is forecast to avoid 100,000 tons of CO2 emissions over the lifespan of the PPA – a reduction in carbon emissions of up to 30%.
The project was developed and built by Enernet Global under an exclusive asset development partnership with MPCES. Enernet Global and MPCES are aiming to initiate the development and construction of further sustainable energy projects for the private sector in Puerto Rico this year.
Martin Vogt said: “We look forward to continuing to work in partnership with businesses to continue to support Puerto Rico as it strives to reduce its carbon emissions and make the transition from fossil fuels towards cleaner energies.”
About MPC Energy Solutions
MPC Energy Solutions 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
MPC Energy Solutions releases its 2021 preliminary unaudited financial statements and year-end project update, demonstrating a growing presence in its key markets in Latin America and the Caribbean.
Amsterdam/Oslo– 3 March 2022 – “2021 was an eventful year for MPC Energy Solutions. We made…
MPC Energy Solutions releases its 2021 preliminary unaudited financial statements and year-end project update, demonstrating a growing presence in its key markets in Latin America and the Caribbean.
Amsterdam/Oslo– 3 March 2022 – “2021 was an eventful year for MPC Energy Solutions. We made significant progress and expanded our broad portfolio of renewable energy assets in Latin America and the Caribbean. And now, in Q1 2022, we are reaching another important milestone, as our first projects become operational and start generating revenue,” said CEO of MPC Energy Solutions Martin Vogt.
With the renowned German investment manager MPC Capital as its sponsor and largest shareholder, MPC Energy Solutions is driving the transition to renewable energy with focus on Latin America and the Caribbean – regions that are at the forefront of renewable energy ambitions. The market opportunity is estimated at more than 45 GW in wind and solar alone by 2030 with a growth rate of 14.3%. MPC Energy Solutions has a dedicated and experienced team on the ground, with projects in seven countries to bring clean and affordable energy to developing markets.
“Latin America and the Caribbean are among the most attractive geographies for solar and wind power, and at the same time governments are highly focused on the transition to renewable energy. We are proud to be a key partner for these countries in a region where the consequences of climate change are more severe than in many other places on the planet,” said Martin Vogt.
Among the Company’s main achievements during its first year after the IPO was the construction start of four different projects in Colombia, El Salvador, and on the island of St. Kitts and Nevis. MPC Energy Solutions also signed contracts for the acquisition of two assets in Mexico and Puerto Rico, respectively, and established strategic partnership with US-based C&I focused developer Enernet Global as well as with Swiss-based energy storage solutions company Leclanché SA.
“With the completed acquisition in Mexico, our company has reached an important milestone earlier this year. We are starting to generate revenues and returns on the investments we made. Our project portfolio is diversified and of excellent quality, with average EBITDA margins expected to exceed 75%. The region and its growth potential is attractive for us and our shareholders,” said Vogt.
Attached to this press release and ahead of its annual report which will be released on 20 April 2022, MPC Energy Solutions publishes its preliminary and unaudited financial statements for the year ending 31 December 2021 this morning. The financial performance in 2021 is in line with management’s expectations, in a year focused on ramping up the organization, progressing project development, and making first investments. The company did not generate revenues in its first full year of operations yet, and ended 2021 with a negative operating income (EBIT) of USD 3.1 million and a net loss of USD 2.8 million. Total assets amounted to USD 83.9 million. “We are well financed to be able to deliver on our advanced portfolio. We have no long-term financial debt, and at the end of 2021, we had a cash position of USD 56.8 million,” mentioned Vogt.
Webcast
A conference call and simultaneous webcast for the investment community will be held at 9:00 am CET. There will be a Q&A session after the presentation, and a recording and written transcript of the webcast will be published on the Company’s website afterwards.
MPC Energy Solutions 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
MPC Energy Solutions completes acquisition of Los Santos Solar I project in Mexico
Amsterdam/Oslo– 7 February 2022 – MPC Energy Solutions (MPCES) has completed the acquisition of Los Santos Solar I project, located in the state of Chihuahua, Mexico. The solar photovoltaic (PV) plant reinforces MPCES’ position as a regional leader in renewable energy and supports the country’s ongoing energy transition.
Martin Vogt, CEO of MPC Energy Solutions, said: “Los Santos Solar I contributes towards Mexico’s goals of achieving 50% of electricity generation from clean energy by 2050 and reducing the levels of greenhouse gas emissions by 50%. We are pleased with the swift completion of this project acquisition that marks our first operational asset in Mexico. We would like to thank Buenavista Renewables (BVR) for their excellent cooperation during this process and we are looking forward to a continued collaboration for the future expansion of this project.”
In 2020, according to the International Energy Agency (IEA), power generation from renewables accounted for 18.8 per cent of the total electricity produced in Mexico. This is a 28.55 per cent increase in renewables power generation since 2015.
The plant is operational since 2017 and has a capacity of 15.8 MWp, with the potential to be extended to 90 MWp. The project has a USD-denominated power purchase agreement (PPA) with Leoni Cable, a German cable manufacturer, and the International De La Salle Educational Network. The US Government’s Development Finance Corporation (DFC) and the North American Development Bank (NADB) provided a 20-year project funding.
Martin Vogt added: “We are excited to have our first operational project in the portfolio reinforcing our commitment to assist Latin America diversifying its energy mix towards cleaner sources and helping create resilience in the region.”
- 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: ir@mpc-energysolutions.com
Norway Jo Christian Lund-Steigedal Corporate Communications AS Phone: +47 415 08733 Email: jcsnoSpam@corpcom.no
