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.”