MPC Energy Solutions (MPCES) and Akuo Energy have started construction of Parque Solar Planeta Rica, a 26.55MW solar photovoltaic (PV) project in Colombia.

The solar power project is a joint venture between the Dutch and the French firms. It will involve an investment of around $24 million.

Parque Solar Planeta Rica is expected to begin power generation in early Q3 2022. It will produce enough power to meet the electricity requirements of more than 10,000 Colombian homes.

During the construction stage, the solar power plant in Colombia will employ more than 200. After its commissioning, Parque Solar Planeta Rica is estimated to offset more than 4,000 tons of CO2 emissions annually.

Martin Vogt — CEO of MPC Energy Solutions said: “The start of the construction of the Planeta Rica project in Colombia is another important step forward for MPC Energy Solutions, executing on our significant project pipeline as outlined at the time of our IPO in January 2021.

“Our plan is to build up an operational portfolio as a leading independent power producer (IPP) with a highly diversified portfolio and attractive rates of return. We are highly dedicated to Latin America, and Colombia is a particularly attractive market, having the strongest growth rate for renewable energy in the region.”

The Planeta Rica solar power plant is underpinned by a 15-year power purchase agreement (PPA) to a major regional utility for 100% of its power.

  Akuo Energy, Colombia, Latin America, Martin Vogt, MPC Energy Solutions, Planeta Rica solar power plant, Solar industry news, Solar power plant