Related Party Transaction • Mar 22, 2022
Related Party Transaction
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MPC Energy Solutions completes acquisition of Combined Heat & Power (CHP) plant in Puerto Rico
Amsterdam/Oslo - 22 March 2022 - MPC Energy Solutions (MPCES) is proud to
announce the completion of the acquisition of its Neol CHP plant, a 3.4
MW Combined Heat and Power (CHP) plant in Caguas, Puerto Rico. The USD 9 million
investment was pending the completion of the construction phase. The plant is
majority-owned by MPC Energy Solutions and is now generating its first kWhs with
a long-term Power Purchase Agreement (PPA) in place to supply Neolpharma Inc., a
pharmaceutical company.
Martin Vogt, CEO at MPC Energy Solutions, said: "The commissioning of Neol CHP
is another important step in terms of executing on our project pipeline and a
demonstration of MPC Energy Solution's commitment to Puerto Rico. The territory
has an ambitious target to transition to 100% renewable energy by 2050. Projects
such as the Neol CHP power plant are a part of that transition."
Energy production from the Neol CHP plant is expected to be 26,000 MWh per year.
Having a dedicated power source will enable Neolpharma to benefit from a stable
supply and reduced thermal energy consumption, resulting in substantial
environmental benefits. The plant is forecast to avoid 100,000 tons of
CO\2\ emissions over the lifespan of the PPA - a reduction in carbon emissions
of up to 30%.
The project was developed and built by Enernet Global under an exclusive asset
development partnership with MPCES. Enernet Global and MPCES are aiming to
initiate the development and construction of further sustainable energy projects
for the private sector in Puerto Rico this year.
Martin Vogt said: "We look forward to continuing to work in partnership with
businesses to continue to support Puerto Rico as it strives to reduce its carbon
emissions and make the transition from fossil fuels towards cleaner energies."
About MPC Energy Solutions
MPC Energy Solutions is a global provider of sustainable energy and primarily
focuses on low-carbon energy infrastructure, including solar and wind assets,
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] ([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 7925 697 215
Email: [email protected]
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