Los Santos Solar I project : MPC Energy to acquire 15.8MW Mexican project
MPC Energy Solutions (MPCES), a Dutch renewable energy firm, has agreed to acquire the 15.8MW Los Santos Solar I project in Mexico for an undisclosed price.
The acquisition marks the foray of MPC Energy Solutions into the Mexican renewable energies market. The company’s footprint is spread over six countries across Latin America and the Caribbean regions.
Located in Ahumada, Chihuahua in northern Mexico, the Los Santos Solar I project has been fully operational since 2017. It is said to offset nearly 16,500 metric tons per year of CO2 emissions.
Martin Vogt — CEO of MPC Energy Solutions said: “This deal is another confirmation that we are on track to deliver on our project pipeline, implying 177 MW installed capacity and USD 40 million of asset-level revenue by the end of 2023.
“It reinforces our position as a leader in the region’s renewable energy market with close to 11,000 MW of installed wind and solar PV capacity and potential for further growth given the abundance of resources and demand for clean energy from the private and public sectors.”
The Los Santos Solar I project was financed and constructed by Buenavista Renewables (BRV). It is underpinned by a power purchase agreement (PPA) with Leoni Cable, a German cable manufacturer, and the International De La Salle Educational Network.
MPC Energy Solutions has also secured a 20-year project financing from the US government’s Development Finance Corporation (DFC) and the North American Development Bank (NADB).
The capacity of the Los Santos Solar I project can be potentially extended to around 90MW.
MPC Energy Solutions has also signed a right of first refusal (ROFR) agreement with Buenavista Renewables. The company said that the Los Santos Solar I extension could be ready-to-build in 2023.
The acquisition is expected to be completed in Q1 2022, once it clears all the customary conditions.