MPC Capital announces the successful completion of construction activities of 6.4 MWp solar PV park and further investments in renewable energy in El Salvador
29 Dec 2020
Hamburg – 29 December 2020 – MPC Capital AG (Deutsche Börse Scale, ISINDE000A1TNWJ4), an international asset and investment manager, has announced today the successful technical completion of the San Isidro solar park project in El Salvador. The project, funded by MPC Caribbean Clean Energy Fund with a total deployment of USD 7.8 million, marks MPC Capital’s third operational renewable energy project in the region.
The commercial operation date is scheduled for early 2021 when the solar park is set to provide 6.4 MWp of power and avoid an estimated of 36,000 tons of CO2 emissions throughout its lifetime. With the completion of the construction, the solar park becomes part of the investment portfolio owned by MPC Caribbean Clean Energy Fund LLC.
Throughout the development and construction of the San Isidro solar park and in partnership with Plan International, and other local humanitarian organisations, MPC Capital has also been supporting the local community. The project employed primarily local workforce and created a community engagement program that included a variety of activities such as workshops and food kits supply for economically vulnerable families in the local area during the pandemic.
Martin Vogt, Managing Director of Renewable Energies at MPC Capital, said: “San Isidro Solar park is a clear example of how projects like this one can not only offer strong returns to investors but also be beneficial to local economies. By offering a number of new jobs locally, we are able to positively impact the community making the region more resilient while helping the fight against climate change. San Isidro is only our first project in the El Salvador, and we secured additional PPAs for further 20 MWp that we will build in 2021. Our aim is to have an operational portfolio of at least 50 MWp by the end of 2022.”
Juan Esteban Hernández, Head of Project Development at MPC Capital, said: “The successful completion of the San Isidro solar park, given the difficult weather conditions and complications due to the global pandemic, is no small feat. All development and construction teams and project partners have done an incredible job to ensure we can deliver a project that is key to the transition from fossil fuels to cleaner energy.”
Once commissioned, a 20-year USD-denominated power purchase agreement (PPA) with CAESS, the local subsidiary of the US-based energy company AES Corporation, will begin. MPC Capital signed an Engineering, Procurement and Construction (EPC) contract with Enertiva, a Central American solar and energy efficiency specialist for the construction of the San Isidro solar project.
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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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