MPC Energy Solutions closes asset development agreement and strategic partnership for projects in the Caribbean and Asia Pacific
05 Feb 2021
Hamburg/Oslo – 05 February 2021 – MPC Energy Solutions has announced the closing of an asset development agreement and strategic partnership with Enernet Global, a distributed energy service company that develops microgrid projects in Latin America, Africa, Australia and Asia. The new partnership provides the company with access to the growing microgrid sector in established and new markets.
The news of the partnership follows an investment into Enernet Global that has seen MPC Energy Solutions become a minority shareholder of the company. Enernet Global will develop the asset pipeline and performs the construction management. MPC Energy Solutions will acquire the projects prior to construction start and remain the long-term asset owner.
MPC Energy Solutions will have access to Enernet Global’s project pipeline in target markets, which utilize a combination of solar PV, wind, battery, hydro, and/or combined heat and power technologies with clients (off-takers) from the corporate and utility sector. The partnership will also help MPC Energy Solutions further extend its pipeline of renewable energy projects in the Caribbean as well as enter the Asia-Pacific region, where it will look to grow its portfolio.
Martin Vogt, CEO of MPC Energy Solutions, said: "This new partnership with Enernet Global will further accelerate our growth and deployment of assets. We remain strongly committed to the energy transition in Latin America and the Caribbean, but also see excellent opportunities in Asia Pacific. It is also a steppingstone that will see us move into new regions where we can continue to deliver strong returns for our shareholders while helping us with our main aim to reduce carbon emissions.”
Paul Matthews, CEO of Enernet, commented: “The partnership with MPC Energy Solutions will help us to achieve our mission to reduce dependence on fossil fuels. Globally, many businesses and utilities still rely on diesel-generated power, while others suffer losses from costly power outages. Our Energy-as-a-Service model drives savings and delivers significant carbon emission reductions while providing more resilient systems and energy independence. Enernet Global and MPC Energy Solutions share a commitment to the advancement of the global energy market and a sustainable, renewables-based energy transition.”
The news follows the launch of MPC Energy Solutions and its private placement directed towards institutional investors, where the new platform raised a total of NOK 857 million (USD 100 million) in advance of its listing on Oslo Stock Exchange’s Euronext Growth segment.