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 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.
Funds managed by RBC Trust commit USD 10 million to MPC Caribbean Clean Energy Limited
ST. MICHAEL, Barbados – 9 November 2020 – MPC Caribbean Clean Energy Limited has announced today that RBC Trust (Trinidad and Tobago) Limited, a subsidiary of RBC Financial Caribbean Limited, has committed USD 10 million to the company. RBC Trust made this investment on behalf of its managed clients’ accounts. The feeder-vehicle was established to enable local investors such as pension funds, insurance companies, or credit unions to participate and benefit from the energy transition in the region and invests the capital into the MPC Caribbean Clean Energy Fund LLC. The company has collected more than USD 30 million from regional institutional investors since 2019. The commitment is subject to pending approval of the Trinidad and Tobago Securities and Exchange Commission.
The investment demonstrates the trust and appetite of the local institutional investor community for the renewable energy sector as well as commitment to aid the energy transition towards renewable energies in the Caribbean region. It is also in line with the companies’ global strategy and commitment to accelerate clean economic growth, support low-carbon transition and positive community and social impact.
Martin Vogt, Managing Director Renewable Energies at MPC Capital, said: “We are honored to have RBC Trust as a partner and financier of our renewable energy business. The conditions for the use of solar and wind power in the region are excellent. With the impact of COVID-19 on the region and the growing demand for low-carbon power supply, we are determined to invest in the transition to clean energy infrastructure in the Caribbean to make it more resilient and independent. The private sector plays a crucial role in mobilizing capital for investment and job creation, and we want our activities to help promote green recovery.”
MPC Renewable Energies GmbH, a wholly owned subsidiary of the publicly listed German asset and investment manager MPC Capital AG, is the investment advisor to the fund manager of MPC Caribbean Clean Energy Fund LLC.
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.
Information to shareholders about Covid-19
In view of the current uncertainty, we would like to inform you about the companies’ measures in response to the outbreak of the corona virus disease 2019 (COVID-19), commonly known as coronavirus.
First of all, we hope that this message finds you well and you are in good health in spite of the current circumstances affecting the entire world.
In view of the current uncertainty, we would like to inform you about the companies’ measures in response to the outbreak of the corona virus disease 2019 (COVID-19), commonly known as coronavirus.
In principle our investment and the operations of the MPC Caribbean Clean Energy Fund (the Fund) are not directly affected yet and this includes the energy production of the Funds’ assets in Jamaica and Costa Rica. The assets are fully operational.
The Executive Management is closely monitoring the situation in order to minimize any potential affections, and we are also following the guidance issued by the authorities in the countries in which we have operations in order to prevent the spread of the coronavirus. The Fund has put together a series of measurements to protect the health and safety of its staff.
MPC Caribbean Clean Energy Limited is committed to our shareholders and business partners to ensure the minimum impact to our operations.
Some of the measures we have taken include:
Implementation of HSE measures and guidelines as provided by local authorities in each country;
If possible, staff is working from home; - Suspension of all non-essential travel;
24/7 remote asset monitoring from our central control center.
