MPC Energy Solutions N.V.

Regulatory Filings • Feb 26, 2024

MPC Energy Solutions commences construction of 65 MWp solar PV plant in Guatemala, 16-year PPA signed with IMSA Group

MPC Energy Solutions commences construction of 65 MWp solar PV plant in Guatemala, 16-year PPA signed with IMSA Group

Amsterdam/Oslo - 26 February 2024 - MPC Energy Solutions ("MPCES", "Company")

announced today that it has started construction of its 65 MWp solar

photovoltaics ("PV") plant San Patricio Renovables in Guatemala. The Company

issued a limited notice to proceed to the project's turnkey EPC contractor and

thereby secured very competitive prices for PV modules and other critical

equipment required for the project.

"We are thrilled to achieve another significant milestone in our company's

history. San Patricio is by far our largest project to date, demonstrating the

scalability of our existing setup and emphasizing our ability to successfully

develop greenfield projects in the region. Once operational, the project is

expected to deliver long-term stable financial returns to our shareholders and

will help us surpass the USD 20 million annual group revenue threshold. The

construction of the solar PV plant is expected to be completed by mid-2025",

said Stefan H.A. Meichsner, Chief Financial Officer of MPCES.

MPCES today owns and operates five power-producing assets across Latin America

and the Caribbean with an aggregate capacity of around 79 MWp (proportionate

share MPCES: 66 MWp). San Patricio will be a significant addition to the

production portfolio and nearly double the Company's installed capacity. San

Patricio alone is expected to generate revenues of more than USD 8 million per

year at EBITDA margins above 80 percent. The total investment costs for the

construction of the plant, including financing costs and risk contingencies,

will be around USD 42 million.

Fernando Zuñiga, MPCES's Managing Director for Latin America and the Caribbean,

added: "It is our mission to provide clean and affordable energy to countries

across Central America and the Caribbean. San Patricio will be our sixth

operational power plant once completed. The greenfield development only took

around 12 months, which is truly a great accomplishment. It shows how quickly

the energy transition can be implemented if all involved parties work focused

and hand-in-hand, and that we have found great partners for this project."

MPCES has signed a turnkey contract with the Enerland Group for the engineering,

equipment procurement, and construction of the plant. Enerland also built the

21.3 MWp solar PV plant Santa Rosa & Villa Sol in El Salvador for MPCES, which

commenced operations in early 2023 after just 12 months of construction.

Once operational, the plant is expected to generate around 141 GWh of

electricity per year. As announced in February 2023 by MPCES, the output from

the plant will be sold entirely to Ingenio Magdalena S.A. (IMSA) under a 16-year

fixed-price PPA. The IMSA Group is Guatemala's leading producer and exporter of

refined sugar. The group, which processes 6.5 million tons of sugarcane per

year, is also the largest private energy producer in Guatemala and supplies

around 8 percent of Guatemala's total energy consumption from its power

generating facilities.

MPCES will hold a webcast presenting the 2023 review, strategy update and

outlook for 2024 on Monday, 26 February 2024. There will be a Q&A session after

the presentation, and a recording of the webcast will be published on the

Company's website afterwards.

Webcast information:

Date:               26 February 2024

Time:               10:00 am CET

Duration:         60 minutes incl. Q&A

The live webcast can be accessed through the following link:

https://hca.videosync.fi/2024-02-26-mpces/register

For further information, please contact ir@mpc-energysolutions.com.

- 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

farms, 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

Mats Samdahl Weltz

Salto Advisers

Phone: +47 950 46330

Email: msw@saltoadvisers.no