Environmental & Social Information • Aug 12, 2021
Environmental & Social Information
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MPC Energy Solutions commences construction of 26.55 MW solar PV plant in Colombia
Amsterdam/Oslo - 12 August 2021 - MPC Energy Solutions (MPCES) and Akuo Energy
have commenced construction of Parque Solar Planeta Rica, a solar photovoltaic
(PV) project in Colombia. The project is a joint venture with Akuo Energy, a
leading French developer and operator of renewable energy projects.
"The start of the construction of the Planeta Rica project in Colombia is
another important step forward for MPC Energy Solutions, executing on our
significant project pipeline as outlined at the time of our IPO in January 2021.
Our plan is to build up an operational portfolio as a leading independent power
producer (IPP) with a highly diversified portfolio and attractive rates of
return. We are highly dedicated to Latin America, and Colombia is a particularly
attractive market, having the strongest growth rate for renewable energy in the
region," said Martin Vogt, CEO at MPC Energy Solutions.
The total investment for erecting the Planeta Rica plant is approximately USD 24
million. MPCES and Akuo Energy are the equity sponsors whereby the debt
financing is provided by Bancolombia. Financial close was achieved in early
August. Bancolombia is the largest commercial bank in Colombia and one of the
largest in Latin America as well as a leader in directing capital towards
environmentally sustainable investments accross the region.
The project will sell all generated electricity under a 15-year Power Purchase
Agreement (PPA) to a leading regional utility with AAA (col) credit rating by
Fitch Ratings. Planeta Rica is the second Colombian project with a signed PPA
within MPCES's portfolio. The Los Girasoles solar PV project was the first
project that signed a PPA earlier this year. The commercialization of energy of
both projects is fully aligned with the company's strategy to support the
private sector and corporate clients with clean energy.
Energy production from the Planeta Rica project is expected to start in early Q3
2022. The Planeta Rica plant will have an installed capacity of 26.55 MWp, while
delivering enough electricity to satisfy the energy needs of over 10,000
households in Colombia.
During the construction phase, the plant will employ over 200 people with a
requirement for a proportion of those workers to be female. When the plant is
commissioned, it will avoid the emission of over 4,000 tons of CO2 each year and
provide a sustainable source of clean electricity.
Martin Vogt said: "We believe Colombia has the potential to be a leader in terms
of moving towards a cleaner energy future and we have had a dedicated team in
the country for several years. This OECD country is rich in sources of renewable
energy and just like many other countries in Latin America, Colombia has
ambitious targets for transition to renewable energy. We are excited to build
and operate this project together with such a reputable and experienced partner
as Akuo Energy. Planeta Rica is our first Colombian project to start
construction demonstrating the successful start of implementation of our solar
portfolio here. The Planeta Rica project will support the country's transition
towards a low-carbon future and help boost its resilience. The increasing scale
of our operations in Colombia also allows us to ensure that high-value skills
learnt from the construction and operation of these cutting-edge facilities help
to enhance the broader economic development of Colombia."
- 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]
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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