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.
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.
MPC Caribbean Clean Energy Ltd. closes rights issue
The clean energy investment specialist will use the capital raised to sharpen its profile in the Caribbean region
ST. MICHAEL, Barbados – 31 January 2020 – MPC Caribbean Clean Energy Ltd. (“the Company”) announced the closing of its renounceable rights issue. At the closing, the Company sold and issued 10,242,382 new Class B shares, increasing the share capital to approximately 21,500,000 USD now.
The subscription price for new shares was set at JMD 140.00 per share for applicants subscribing in Jamaica and USD 1.00 per share for applicants subscribing in US dollar. From 13 November 2019 until 10 January 2020, the Company’s existing shareholders were able to purchase two new shares for every share already held and new investors were able to purchase renounced shares from the existing shareholders. Subject to the approvals of the stock exchanges, the listing of the new Class B shares is expected to occur in early February.
MPC Caribbean Clean Energy Ltd. will use the capital raised to enable investments by the MPC Caribbean Clean Energy Fund LLC (the “Fund”) into additional renewable energy projects in the Caribbean. The Fund aims to further develop and refine its renewables platform in the region, while also offering new, attractive investment opportunities.
Martin Vogt, Managing Director at MPC Renewable Energies, said: “We enable investors to invest in the future. Eco-consciousness and attractive returns aren’t mutually exclusive, especially in an area as attractive as the Caribbean. The investor-friendly political environment coupled with a natural abundance of green energy resources provides an ideal framework for cashing in on renewable infrastructure assets. We are seeing strong interest from investors in these markets who have not yet been able to invest and will also offer these investors a platform to participate in this highly interesting growth market.”
“Today, the Company’s share price on the JSE Main Market stands at 202 JMD compared to 130 JMD at the IPO one year ago” Fernando Zúñiga, Executive Director of the Company adds. “We also returned a first dividend to our shareholders only nine months after the IPO yielding an 8.9 percent on share capital. With the closing of this Rights Issue we nearly doubled our share capital within 12 months and further diversified our shareholder structure. The Company attracted capital from existing and new instititutional investors evidencing the attractiveness of our business model for investors seeking long-term investments with stable cash flows and strong yields. Unfortunately, we are also experiencing obstacles in attracting capital for the Company due to the regulatory frameworks and availability of US dollar in the non-Jamaican markets such as Trinidad and Tobago as well as Barbados. The Board would like to thank our existing and new shareholders for their trust and sharing our vision and thank our lead brokers JN Fund Managers Ltd. and First Citizens Brokerage and Advisory Services Limited for their continued support.”
