Invest clean
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). The audited financial statements of the Investment Company are available to shareholders upon request.
The Company is registered in Barbados and publicly listed on the Jamaica Stock Exchange as well as the Trinidad and Tobago Stock Exchange. The clean energy investment specialist MPC Renewable Energies (MPC), a 100% subsidiary of the publicly listed German asset and investment manager MPC Capital, has initiated the Company and the Investment Company based on its extensive renewable energy experience worldwide and after deep research and analysis of the Caribbean market.
MPC Caribbean Clean Energy Limited Code of Conduct
MPC Caribbean Clean Energy Limited Corporate Governance Policy
MPC Caribbean Clean Energy Limited Corporate Disclosure Policy
MPC Caribbean Clean Energy Limited Remuneration and Audit Committee Charter
Invest into significant growth potential
MPC Caribbean Clean Energy Ltd. invests directly into the Investment Company which is one of a few investment funds specializing in clean energy in the Caribbean.
Today the Caribbean region relies on fossil fuel imports and has correspondingly high electricity prices. With marked growth in the demand for energy, renewable energy sources are increasingly becoming an economical form of new electricity generation. Significant growth potential also exists for energy efficiency and energy storage.
Therefore the Caribbean region has great potential to offer an attractive investment opportunity to the Investment Company for the benefit of its investors.
VISION
MPC’s vision is to become the leading investor for renewable energy in the Caribbean region, delivering new energy and attractive investments to it´s people.
According to CARICOM’s Sustainable Energy Roadmap, its 15 members aim to install 5.3 Gigawatt of clean energy over the next ten years, requiring USD 8.4 billion, while MPC’s overall target region offers a multiple of this opportunity.
The MPC investment advisory team has already identified a broad pipeline of renewable energy projects in the Caribbean for the Investment Company which would significantly reduce the carbon footprint of preexisting power generation assets in the Caribbean region while matching investors’ return expectations.
MISSION
Renewable and clean energy is not only a must for our future but has also great investment potential. MPC’s mission is to bring renewable energy to the Caribbean and the Caribbean people and thereby accelerating positive environmental and social impact. The MPC investment advisory team has built extensive networks for proprietary deal origination and co-investment, a deep pipeline of projects, strong global strategic relationships and has demonstrated the ability to raise and deploy capital.
Board of the company
José Fernando Zúñiga Galindo
Mr. Zúñiga has been appointed Chairman of the board of directors of the Company and Executive Director nominated by the sole Class A shareholder MPC Clean Energy Ltd. Mr. Zúñiga is Managing Director Central America & Caribbean of MPC Renewables Panama S.A. and based in Panama City, Panama, and responsible for the business development as well as supporting the origination and asset management.
Mark Hart J.P.
Mark Hart is currently the Executive Chairman of Caribbean Producers (Jamaica) Limited, which is listed on the Junior Market Jamaica Stock Exchange (JSE), having previously served as its Chief Executive Officer from 2004 until early in 2011 and is also the founding and controlling shareholder of that company.
Mark began his career as the Managing Director of the Hart family’s group of companies in 1982, eventually becoming Chairman and Chief Executive Officer in 1997. Mark serves as Chairman of Cargo Handlers Limited, another JSE Junior Market listed company and Montego Bay Ice Company Limited, a JSE Main Market listed company. Mark is a graduate of the University of Miami where he gained a Bachelor of Science degree in History and Motion Picture Film Production. He has also completed a program in Executive Education with focus on accounting and planning at Columbia University of New York.
Mark served as Chairman of the Airports Authority of Jamaica from 2007 - 2012 and he is currently a member of the boards of The We Care of Cornwall Regional Hospital, NMIA Airports Limited, The Port Authority of Jamaica, Montego Bay Freezone Company Limited, The Bank of Nova Scotia Jamaica Limited, Scotia Group Jamaica Limited, and Alpha Angels Investor Group. In the past he has served as a Director of JAMPRO, Dehring Bunting and Golding Limited (now Scotia Investments Limited), the American Chamber of Commerce of Jamaica, the Montego Bay Chamber of Commerce, First Life Insurance Company, Island Victoria Bank, The Tryall Club, Montego Bay Yacht Club, amongst others.
Alastair Dent
Alastair Dent is a chartered accountant whose career has spanned Ernst & Young Barbados in various capacities and ultimately as one (1) of its audit partners. Alastair also had an intervening appointment as the Chief Financial Officer of London Life and Casualty Reinsurance Corporation during the continuum of his tenor at Ernst & Young.
In 2016 Alastair established his own audit firm, Orion Consulting Inc.
Alastair is also an Associate Member of ICAEW, a Fellow of Institute of Chartered Accountants of Barbados (ICAB) and was a Member of ICAB Accounting and Auditing Standards Committee from 1999 to 2011.
Steven Marston
Steven Marston is the Chairman and CEO of CAC 2000 Limited. Steven has worked in the air conditioning and energy business for over 32 years. He is an engineer with a BSc. in Environmental Engineering (HVAC) from University of Strathclyde (1980) and MSc. in Energy Management and Policy from University of Pennsylvania (1984). He is also a graduate of the Owner President Management Program at Harvard Business School in 2009.
Steven worked in the renewable energy field for 10 years (Ministry of Mining and Energy and Petroleum Corporation of Jamaica) and installed many of the initial solar systems in hospitals and hotels. He also worked in the sugar industry and installed a hydrous ethanol plant at Bernard Lodge along with other improvements that quickly made it one of the most efficient sugar factories in Jamaica. He then went on to work as an energy consultant before being asked by ICD to take over the failing CAC and not only restored it to become Jamaica’s largest HVAC company, while also helping to lead the construction arm of the Mechala Group, before leading a management buyout of CAC. Over the course of his tenure the company has achieved significant growth and development guided by his vision, experience and expertise and he led the company to a successful listing on the Junior Market of the Jamaica Stock Exchange - the first, and still only, construction company to do so.
CAC continues to flourish under his leadership but he is also working assiduously on regional expansion, large projects and commercial energy solutions with the intention of making CAC the largest HVAC and alternative energy business in the Caribbean.
Guardian Nominees (Barbados) Limited
Guardian Nominees (Barbados) Limited is a corporate director appointed by the Company in the interest of continuity on the board and also in order to facilitate board meetings in Barbados
INVESTMENT ADVISOR TO THE INVESTMENT COMPANY
MARTIN VOGT
Managing Director, Head of Origination, Renewable Energy
MPC Renewable Energies GmbH
Martin Vogt is responsible for originating, structuring and executing of cross-border renewable energy transactions. He has performed M&A transactions for over 2 GW and successfully completed project financing for over 500 MW. He serves as non-executive Director of the Caribbean Alternative Investment Association (CARAIA). Martin holds a Master of Technical and Commercial Management with focus on Energy & Resources.
Martin joined MPC Renewable Energies GmbH in 2014. Previously, he was Vice President at Global Capital Finance.
DAVID DELAIRE
Managing Director, Head of Asset Management, Power & Renewable Energy
MPC Renewable Energies GmbH
David Delaire is responsible for the implementation and operation of projects. David has over 25 years of experience in energy infrastructure project management and more than 11 years in renewables and emerging markets. Previously, he was in senior management roles in leading renewable energy companies including Natural Power (Director of Asset Management), GE Wind (Wind Maintenance Coordinator Southern Europe), Eolfi (CTO) and Greensolver (COO).
David holds a Master of Business Administration with focus in Management and a Bachelor of Electrical Engineering. He joined MPC Renewable Energies GmbH from DD Energy Services, where he served as Managing Partner.
FERNANDO ZÚÑIGA
Managing Director, Central America & Caribbean MPC Renewables Panama SA
Fernando Zúñiga is responsible for the business development as well as supporting the origination and asset management. Fernando has more than 9 years of experience in renewable energy with a strong focus on solar PV and the development and construction phase of renewable energy projects.
He joined MPC Renewables Panama SA in 2017. In the past, he worked on over 2 GW of renewable energy projects with approximately 800 MW of development and asset management of solar PV in Latin America.
Paradise Park
In June 2018, the Investment Company acquired a shareholding (indirect) in “Paradise Park” (also known as Eight Rivers Energy Company), a 51 MWp solar park in Jamaica. Paradise Park secured limited-recourse project finance amounting to approximately USD 50 million from the French development bank, PROPARCO, and the Dutch development bank, FMO in June 2018. The construction of the solar park began in September 2018 and was commissioned in June 2019. Paradise Park is the largest photovoltaic power plant and the cheapest producer of energy in the island nation.
| Project name | Paradise Park |
| Location | Jamaica |
| Description | Fixed ground-mounted solar PV park with c. 50 MWp capacity |
| Energy Production | Yearly output: 82,000 MWh |
| Investment Start | Q1 2018 |
| Construction Period | Q2 2018 – Q2 2019 |
| Total Investment | Approx. USD 64 million |
Tilawind
The second investment of the Investment Company is the operational 21 MW wind farm Tilawind, located in Tilarán in the Guanacaste province, Costa Rica. With a wind turbine capacity factor of 45%, Tilarán represents an excellent location for the wind farm, which has been operational since 2015 and has the potential to expand its capacity to 40 MW in the future.
| Project name | Tilawind |
| Location | Costa Rica |
| Description | Onshore wind farm with c. 21 MW capacity |
| Energy Production | Yearly output: 81,300 MWh (P50) |
| Investment Start | 2018 |
| Total Investments | Approx. USD 50 million |
| Co-Investor | ANSA McAL Limited |
