Regulatory Filings • May 15, 2023
Regulatory Filings
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MPC Energy Solutions expands its development footprint in Latin America, signs first development service agreement in Panama
Amsterdam/Oslo - 15 May 2023 - MPC Energy Solutions (MPCES) strengthens its
commitment to deliver renewable energy solutions and expands its development
footprint in Latin America by entering Panama. Through new developments focusing
on ground-mounted solar PV, the company enhances its ambition to significantly
expand its project pipeline in Latin America.
"In line with our business strategy and geographical focus, we are dedicated to
developing projects located in Panama and other Latin American and Caribbean
nations. It is exciting to see the continuous growth of our diversified pipeline
as we take further steps towards helping to accelerate the energy transition in
the region", says Fernando Zúñiga, Managing Director Latin America and Caribbean
of MPC Energy Solutions.
MPCES and its partners have already identified sites and grid connection
capacity for combined 60-70 MWp with immediate start of development works and
the aim to grow this local pipeline further through own developments and/or
acquisitions. The new development projects will support the company's goal to
reach 800 MW of ready-to-build projects in the region by 2025 and to achieve
1,000 MW of sustainable energy assets across Latin America and the Caribbean by
"As Panama's government looks to decentralise and diversify its energy
generation, we are committed to contribute to the expansion of the country's
green energy sources. Panama possesses excellent solar irradiation, a well
-functioning and mature electricity market for independent power producers, PPA
and spot market settlements in USD and the cheapest cost of debt financing in
the region. These factors are key drivers for our decision to enter the market
and develop economically attractive assets", says Fernando Zúñiga.
Panama has made significant strides in developing hydropower projects, producing
54% of its electricity through hydroelectric power. To accelerate its commitment
to tackling climate change, increasing the country's resilience, and meeting its
growing energy demands, Panama has pledged that 50% of the country's generation
capacity will come from renewables by 2050, including solar and wind.
- 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: [email protected]
Norway
Mats Samdahl Weltz
Salto Advisers
Phone: +47 950 46330
Email: [email protected]
United Kingdom
Judith Ugwumadu
Montieth & Company
Phone: +44 7774 985705
Email: [email protected]
Americas
Perry Goldman
Montieth & Company
Phone: +1 (646) 8643568
Email: [email protected]
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