Funds managed by RBC Trust commit to MPC Capital’s Caribbean renewables platform
09 Nov 2020
Hamburg – 9 November 2020 – MPC Capital AG (Deutsche Börse Scale, ISINDE000A1TNWJ4) has announced today that RBC Trust (Trinidad and Tobago) Limited, a subsidiary of RBC Financial Caribbean Limited, has committed USD 10 million into its Caribbean listed feeder-vehicle to further grow the portfolio of renewable energy assets. RBC Trust made this investment on behalf of its managed clients’ accounts. The feeder-vehicle was established to enable local investors, such as pension funds, insurance companies, or credit unions, to participate and benefit from the energy transition in the region and has collected more than USD 30 million from regional institutional investors since 2019. The commitment is subject to pending approval of the Trinidad and Tobago Securities and Exchange Commission.
The investment demonstrates the trust and appetite of the local institutional investor community for the renewable energy sector as well as commitment to aid the energy transition towards renewable energies in the Caribbean region. It is also in line with MPC Capital’s global strategy and commitment to accelerate clean economic growth, support low-carbon transition and drive positive community and social impact.
Martin Vogt, Managing Director Renewable Energies at MPC Capital, said: “We are honored to have RBC Trust as a partner and financier of our renewable energy business. The conditions for the use of solar and wind power in the region are excellent. With the impact of COVID-19 on the region and the growing demand for low-carbon power supply, we are determined to invest in the transition to clean energy infrastructure in the Caribbean to make it more resilient and independent. The private sector plays a crucial role in mobilizing capital for investment and job creation, and we want our activities to help promote green recovery.”
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About RBC Financial Caribbean Limited
In June 2008, the Royal Bank of Canada (RBC) acquired RBTT Financial Group (RBTT) creating RBC Financial Caribbean, one of the most extensive banking networks in the Caribbean. As one of the Caribbean’s leading diversified financial services companies, RBC provides personal and commercial banking, wealth management, corporate and investment banking, insurance and trust and asset management services to a wide range of clients, including individuals, small businesses, general commercial entities, regional and multi-national corporations and governments.
About MPC Capital AG
MPC Capital AG is an international asset and investment manager for real asset investments. Together with its subsidiaries, the company develops and manages real asset investments and investment products for international institutional investors, family offices and professional investors. Its asset categories of focus are Real Estate, Shipping and Infrastructure. MPC Capital AG is listed on the stock exchange (MPCK) since 2000 and has around 300 employees group-wide. More details at www.mpc-capital.com
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