MPC Caribbean Clean Energy Ltd. closes IPO on the Jamaica and Trinidad & Tobago Stock Exchanges
24 Dec 2018
MPC Caribbean Clean Energy Ltd. (the “Company”) has announced today the close of its Initial Public Offering (IPO) on the Jamaica and the Trinidad & Tobago stock exchanges. The Company has raised a total of USD 11 million across both stock exchanges.
Attractive investment opportunity for both institutional and private investors
ST. MICHAEL, Barbados – December 24, 2018 – MPC Caribbean Clean Energy Ltd. (the “Company”) has announced today the close of its Initial Public Offering (IPO) on the Jamaica and the Trinidad & Tobago stock exchanges.
The Company has raised a total of USD 11 million across both stock exchanges. The Company shall use the equity raised to invest in clean energy projects such as wind farms and solar parks in Jamaica, Trinidad & Tobago, and the wider Caribbean region, through the MPC Caribbean Clean Energy Fund LLC (the “Fund”). Initial investments made by the Fund include the 50 MWp solar plant, Paradise Park, which is the largest solar park in CariCom, and Tilawind, an operational 21 MW wind farm in Costa Rica.
Martin Vogt, Managing Director at MPC Renewable Energies, the investment advisor to the Fund, said: “With the rising demand for energy in the Caribbean, renewable resources are increasingly becoming a cost-effective form of power generation. MPC Caribbean Clean Energy Limited provides a smart investment opportunity for both institutional and retail investors who want to capitalize on the opportunities of a growing market. Subject to JSE and TTSE approval, it is the only publicly listed company in Jamaica and Trinidad and Tobago with 100% clean energy investment mission.“
“We have identified a variety of projects in Jamaica, the Dominican Republic, Costa Rica, Colombia and other countries in the region that require about USD 500 million of investments. Our ultimate goal is to make a positive economic and social impact on the Caribbean by establishing renewables as the prominent source of energy in the region.”
The offering opened on December 3rd, 2018, and was marketed by JN Fund Managers Ltd. in Jamaica and First Citizens Brokerage and Advisory Services Limited in Trinidad & Tobago as lead brokers. The minimum subscription to the offering was USD 500 (or the equivalent of JMD in Jamaica).
About MPC Caribbean Clean Energy Ltd.
MPC Caribbean Clean Energy Ltd. 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 & Tobago to invest – through the MPC Caribbean Clean Energy Ltd. – 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 clean energy investment specialist MPC Renewable Energies GmbH, a 100% subsidiary of the publicly listed German asset and investment manager MPC Capital AG, has initiated the MPC Caribbean Clean Energy Ltd. and MPC Caribbean Clean Energy Fund LLC based on its extensive renewable energy experience worldwide and after deep research and analysis of the Caribbean market. More details at www.mpc-cleanenergy.com