MPC Capital expands renewables portfolio with 43 MW solar PV project

MPC Capital release

Hamburg, 2 September 2024 -- MPC Capital has successfully brought the Monte Plata II solar park in the Dominican Republic into operation. The project adds 43 MW of capacity to the existing Monte Plata solar park, bringing the total operational capacity of the combined project to 76 MW. The investment was made through MPC Capitals`s MPC Caribbean Clean Energy fund.

With a total investment of approximately USD 45 million, and financing from leading development finance institutions, Monte Plata II is set to generate 67 GWh of clean energy annually, reducing CO2 emissions by an estimated 45,000 tons per year. This highlights MPC Capital's dedication to advancing renewable energy infrastructure as an asset class that is essential for achieving global net-zero goals.

The Monte Plata II project has secured a 15-year Power Purchase Agreement (PPA) with a utility off-taker and went online well on schedule. Throughout the construction phase, MPC Capital has actively engaged with the local community, partnering on several initiatives to demonstrate the positive impact of the project.

Commenting on this achievement, Constantin Baack, CEO of MPC Capital, said: “Bringing Monte Plata II from the early development stages to operation highlights our expertise and extensive network in the Latin American market. We have built a strong track record across the entire value chain, including development, financing, as well as contracting long-term cash flows through the structuring of PPAs. We are dedicated to leverage this experience as we expand into the European energy market.”

Expanding the operating portfolio of renewable energy assets with Monte Plata II confirms MPC Capital's recently refined strategic focus on energy and maritime infrastructure.