M&A Activity • Feb 20, 2023
M&A Activity
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MPC Energy Solutions signs long-term agreement with IMSA Group, enters Guatemalan energy market
Power Purchase Agreement agreed with private off-taker to provide 135 GWh
annually
Amsterdam/Oslo - 20 February 2023 - MPC Energy Solutions (MPCES) has announced
its entry into Guatemala after signing a long-term power purchase agreement
(PPA) with Comercializadora de Energía Para el Desarrollo S.A., a subsidiary of
Ingenio Magdalena S.A. (IMSA Group), the country's leading producer and exporter
of refined sugar, alcohol, and energy. The planned solar photovoltaic (PV)
project will have an installed capacity of 65 MWp. Development of the project
will begin immediately. MPCES targets to start construction in twelve months.
The off-taker is a subsidiary of IMSA Group. The group which processes 6.5
million tons of sugarcane per year, is also the largest private energy producer
in Guatemala. IMSA Group also supplies 8% of Guatemala's total energy
consumption. The group has a total annual turnover of around USD 500 million.
Today's announcement comes as MPC Energy Solutions continues to expand its
operations across Latin America and the Caribbean, with projects now under
development, construction or operation in eight countries across the region.
This new project shows the growing private corporate PPA demand in Central
America and is the largest secured PPA of MPCES to date.
Fernando Zuniga, Managing Director for Latin America and the Caribbean at MPC
Energy Solutions, said: "Establishing development activities in Guatemala
demonstrates how MPC Energy Solutions is spearheading the drive to meet high
demand for renewable energy in Central America, as countries across the region
seek to decarbonize energy production. Signing the PPA is a testament to our
capability of originating new projects and providing tailored solutions to
leading private off-takers."
Jorge Leal, CEO of Ingenio Magdalena S.A., said: "We are excited to partner with
MPC Energy Solutions for this important and innovative project. This PPA is a
milestone for IMSA Group as it confirms our commitment to help accelerate the
energy transition in Guatemala. We believe that this can be the starting point
of a very important cooperation between our two companies."
With the announcement of this new project, MPCES strengthens its presence in the
region and underlines its ability to develop, finance, build, and operate assets
as a full-cycle Independent Power Producer (IPP).
-- 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
Jo Christian Lund-Steigedal
Corporate Communications AS
Phone: +47 415 08733
Email: [email protected]
Americas
Perry Goldman
Montieth & Company
Phone: +1 (646) 8643568
Email: [email protected]
United Kingdom
Andrew Berridge
Montieth & Company
Phone: +44 7774 985705
Email: [email protected]
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