Regulatory Filings • Sep 2, 2021
Regulatory Filings
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MPC Energy Solutions selects EPC contractor for the construction of new 21 MW solar power plants in El Salvador
Amsterdam/Oslo - 2 September 2021 - MPC Energy Solutions (MPCES) has selected
ISOTRON SA, part of Spanish Grupo ISASTUR, as EPC contractor for the
construction of its Santa Rosa & Villa Sol solar photovoltaic (PV) plants in El
Salvador, which have a combined capacity of 21.07 MWp. The construction will
commence in September upon financial close with the project financing lender.
The renewable power plants are fully owned by MPCES and this is the first
project to start construction from the proprietary development pipeline of the
Company.
The solar plants will sell all their generated energy through a 20-year USD
-denominated power purchase agreement (PPA) with CAESS, the local subsidiary of
US-based energy company AES. The total investment is USD 26 million of which 75%
is financed through a project financing facility.
"The selection of the construction contractor is an important milestone. The
groundbreaking of Santa Rosa & Villa Sol in September shows the inherent value
of the project portfolio we have had under ownership since our stock market
debut earlier this year and is another proof point that we can successfully
execute projects in the region. More than 60% of the energy generated in El
Salvador comes from clean and renewable sources, largely thanks to the country's
efforts to diversify its power mix. This shows the high potential of the market
and we are excited to support the country in this important initiative." said
Martin Vogt, CEO at MPC Energy Solutions.
Energy production from the Santa Rosa & Villa Sol project is expected to start
in 2022. When commissioned, the plants will generate almost 43 GWh a year. MPCES
expects an annual revenue contribution from this project of at least USD 3.5
million. The project's solar power will offer substantial environmental
benefits, avoiding nearly 11,000 tons of CO\2\ emissions per year. As part of
MPCES's ongoing commitment to Environmental, Social and Governance measures, the
firm has set a minimum target of 10% for the participation of females in the
construction workforce.
Martin Vogt said: "This solar PV project perfectly aligns with our strategy to
build high-quality renewable energy assets together with private sector clients
in Central America and it is another step towards our aim to become a leading
Independent Power Producer (IPP) in the region. Our long-standing network and
expertise in this region will help building a strong and diversified portfolio
which will generate attractive returns for our shareholders."
- 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
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] ( info@mpc
-energysolutions.com)
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])[email protected] (
United Kingdom
Charles Font
Montieth & Company
Phone: +44 020 38575478
Email: [email protected]
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