We enable private and institutional investors to invest through the company in one of the largest investment funds which invests in renewable energy projects in Jamaica, Trinidad and Tobago and the wider Caribbean region: the MPC Caribbean Clean Energy Fund LLC
ABOUT US
MPC Caribbean Clean Energy is a Caribbean-based investment company with the clear vision to boost investments into renewable energy projects in the Caribbean.
Investing into significant growth potential in renewable energy projects in the Caribbean region, where these energy sources are increasingly becoming an economical form of new electricity generation.
MPC Caribbean Clean Energy refinances loan for Tilawind project
ST. MICHAEL, Barbados – 9 January 2023 – MPC Caribbean Clean Energy Limited has announced today that refinancing for the Tilawind project has been finalized. Tilawind is an operational wind park in Costa Rica that is held by the MPC Caribbean Clean Energy Fund (the Investment Company of the regionally publicly listed MPC Caribbean Clean Energy Limited).
The new loan agreement was finalized with Banco Nacional and features a lower interest rate, a lower reserve balance and an improvement on repayment schedule.
Gözde Kurusoy, Director of Banking and Finance for Renewable Energies at MPC Capital, said: “With the improvement on the existing loan terms and conditions, we are able to increase the projected yield for investors. This again shows our active management of the assets and our strong commitment to support the energy transition towards a low carbon economy in the region.”
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About MPC Caribbean Clean Energy Ltd MPC Caribbean Clean Energy Ltd (the Company) is a Caribbean-based investment company which was established in 2017 with the clear vision to enable private and institutional investors from Jamaica and Trinidad and Tobago to invest through the Company into one of the few investment funds which invests in renewable energy projects in Jamaica, Trinidad and Tobago and the wider Caribbean region: the MPC Caribbean Clean Energy Fund LLC (the Investment Company or the Fund). More details atwww.mpc-cleanenergy.com
This communication is targeted at, and subscription in MPC Caribbean Clean Energy Limited (the "Company") is only open to, prospective investors that are resident in one or more of the following jurisdictions and not in any other jurisdiction: Jamaica and Trinidad and Tobago. Any offer or sale of securities may in certain jurisdictions be restricted by law. The communication does not constitute an offer to sell or a solicitation of an offer to buy interests in the Company in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction. In particular, this communication is not an offer of securities for sale in the United States or to any US person (as defined for purposes of US securities laws in general, and the Securities Act of 1933, as amended, in particular), and such offers and sales may not be made in the United States absent registration or exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain additional, detailed information regarding the statements made herein.
MPC Caribbean Clean Energy completes acquisition of solar park in the Dominican Republic
ST. MICHAEL, Barbados – 12 May 2022 – MPC Caribbean Clean Energy Fund LLC announced the completion of the acquisition of the operational Monte Plata solar park in the Dominican Republic. MPC Caribbean Clean Energy Fund (the Investment Company of the regionally publicly listed MPC Caribbean Clean Energy Limited) indirectly holds a shareholding of approximately 36% in the asset.
The Monte Plata solar park, which currently sells all of its generated power under a 20 year US-dollar denominated PPA to the state-owned Dominican Corporation of State Electrical Companies, was the first utility-scale power station in the Dominican Republic and was also the largest project of its kind in the Caribbean at the time of commissioning in 2016. The project attracted USD 38 million of senior debt from the Dutch and German development finance institutions FMO and DEG in 2018. The solar park has an operational capacity of 33.4 MWp.
The project will be expanded to 75.6 MWp of installed solar PV capacity. For the capacity expansion, a 15 year US-dollar denominated PPA for an additional 42.2 MWp of solar PV capacity was signed in October 2021. Since then all project development activities have been completed in parallel and construction was initiated in April 2022. The commissioning and commercialization of a combined annual energy production of approximately 118,000 MWh and then annual energy sales of 68,500 MWh from the expended capacity is expected to take place in Q2/Q3 2023. Financial closing with the current lenders FMO and DEG is expected to be achieved shortly. Over the course of its operational lifespan the expanded solar park will help avoid the production of nearly 2 million tonnes of CO2.
With regards to the social and economic benefits for neighboring communities, the project expects to generate around 300 direct jobs and close to 1,000 indirect jobs at its peak stage of construction similar to how it did during phase 1.
Gözde Kurusoy, Director Banking and Finance at MPC, said: “The Dominican Republic is the largest existing renewables independent power producer market in the Caribbean, with about 780 MW of installed wind and solar power capacity. The Dominican government intends to generate 25% of its energy from renewable sources by 2030 and plans to be CO2 neutral by 2050. To achieve these goals, the Dominican government has made the development of renewable energy projects a priority. Diversifying the country’s energy matrix and reducing reliance on fossil fuels will be important steps for the Dominican Republic’s future. With the financial close of this acquisition, MPC Caribbean Clean Energy Fund shows the commitment to accelerate economic growth, support the transition towards a low carbon economy and drive community and social impact.”
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About MPC Caribbean Clean Energy Ltd MPC Caribbean Clean Energy Ltd (the Company) is a Caribbean-based investment company which was established in 2017 with the clear vision to enable private and institutional investors from Jamaica and Trinidad and Tobago to invest through the Company into one of the few investment funds which invests in renewable energy projects in Jamaica, Trinidad and Tobago and the wider Caribbean region: the MPC Caribbean Clean Energy Fund LLC (the Investment Company or the Fund). More details atwww.mpc-cleanenergy.com
This communication is targeted at, and subscription in MPC Caribbean Clean Energy Limited (the "Company") is only open to, prospective investors that are resident in one or more of the following jurisdictions and not in any other jurisdiction: Jamaica and Trinidad and Tobago. Any offer or sale of securities may in certain jurisdictions be restricted by law. The communication does not constitute an offer to sell or a solicitation of an offer to buy interests in the Company in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction. In particular, this communication is not an offer of securities for sale in the United States or to any US person (as defined for purposes of US securities laws in general, and the Securities Act of 1933, as amended, in particular), and such offers and sales may not be made in the United States absent registration or exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain additional, detailed information regarding the statements made herein.
MPC Caribbean Clean Energy Fund signs the acquisition of the Monte Plata solar park in the Dominican Republic
ST. MICHAEL, Barbados – 04 June 2021 – MPC Caribbean Clean Energy Fund LLC announced the signing of the acquisition of the operational Monte Plata solar park in the Dominican Republic. MPC Caribbean Clean Energy Fund (the Investment Company of the regionally publicly listed MPC Caribbean Clean Energy Limited) led an equity consortium comprised of ANSA McAl and two minority investors from the Dominican Republic and Canada, that together intends to acquire the full ownership of the asset. The seller is United Renewable Energy Co. Ltd, a Taiwanese solar module producer and system integrator. The closing of the transaction is subject to customary conditions and expected to take place in Q3 2021. MPC Caribbean Clean Energy Fund will indirectly hold a shareholding of approximately 36% in the asset.
The Monte Plata solar park, which currently sells all of its generated power under a 20 year US-dollar denominated PPA to the state-owned Dominican Corporation of State Electrical Companies, was the first utility-scale power station in the Dominican Republic and was also the largest project of its kind in the Caribbean at the time of commissioning in 2016. The project attracted USD 38 million of senior debt from the Dutch and German development finance institutions FMO and DEG in 2018. The solar park has an operational capacity of 33.4 MWp which is set to be extended to approximately 74 MWp by 2022. This will increase its energy production to around 115,000 MWh per annum. Over the course of its operational lifespan the expanded solar park will help avoid the production of nearly 2 million tonnes of CO2.
Gözde Kurusoy, Director of Banking and Finance for Renewable Energies at MPC, said: “The Dominican government’s renewable energy roadmap set a target to reduce greenhouse gas emissions by 25% by 2030 compared to 2010. It aims to do this by diversifying the generation base away from fossil fuels. We are committed to invest in the transition to cleaner energy infrastructure to help make the region more resilient and independent.
“With this acquisition, MPC Caribbean Clean Energy Fund fosters its leading role and expanding its regional presence with operational solar and wind assets in Jamaica, Costa Rica, El Salvador and now the Dominican Republic. We are very pleased to add such an attractive asset to our portfolio and this along a strong consortium of experienced regional and international investors. This acquisition is evidence of our commitment to accelerate economic growth, support the transition towards a low carbon economy and drive community and social impact even during such challenges times that the region experiences with the COVID-19 pandemic.”
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About MPC Caribbean Clean Energy Ltd MPC Caribbean Clean Energy Ltd (the Company) is a Caribbean-based investment company which was established in 2017 with the clear vision to enable private and institutional investors from Jamaica and Trinidad and Tobago to invest through the Company into one of the few investment funds which invests in renewable energy projects in Jamaica, Trinidad and Tobago and the wider Caribbean region: the MPC Caribbean Clean Energy Fund LLC (the Investment Company or the Fund). More details atwww.mpc-cleanenergy.com
This communication is targeted at, and subscription in MPC Caribbean Clean Energy Limited (the "Company") is only open to, prospective investors that are resident in one or more of the following jurisdictions and not in any other jurisdiction: Jamaica and Trinidad and Tobago. Any offer or sale of securities may in certain jurisdictions be restricted by law. The communication does not constitute an offer to sell or a solicitation of an offer to buy interests in the Company in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation in such jurisdiction. In particular, this communication is not an offer of securities for sale in the United States or to any US person (as defined for purposes of US securities laws in general, and the Securities Act of 1933, as amended, in particular), and such offers and sales may not be made in the United States absent registration or exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain additional, detailed information regarding the statements made herein.
