MPC Energy expects to close Colombia farm-down in early 2025

The farm-down of MPC Energy Solutions’ assets in Colombia could take place as early as January or February, according to company CFO Stefan Meichsner.

The Amsterdam-based group operates the Planeta Rica (27MW) and Los Girasoles (12MW) solar parks in the South American country.

During MPC’s third-quarter earnings presentation, Meichsner said that non-binding agreements have been signed with an exclusive buyer which is undergoing due diligence.

Regarding a Colombia project in the development backlog, he said that a binding sales deal has been inked and is due to close by year-end. The name of the project was not disclosed.

MPC also reported that two Colombia solar projects were discontinued: Las Margaritas (65MW) and Matarredonda (25MW).

Meichsner previously said that Colombia was not a promising market.

In the Caribbean, the company plans to sell the 3MW Noel combined heat-and-power plant in Puerto Rico due to “subpar” performance and has discontinued the 65MW Acacia solar project in Jamaica.

MPC had expressed interest in the Jamaican government’s call to supply 100MW from renewable energies, and although it was not known if Acacia participated in the process, the project was not among the initial awardees.

The CFO said MPC may try to sell the discontinued Colombia and Jamaica projects.

The company’s other plants in operation in the region are Santa Rosa (21MW) in El Salvador, and Los Santos I (16MW) in Mexico, both solar, and another project, the 65MW San Patricio solar park in Guatemala, is scheduled to enter service next year.

MPC’s latest financial report is available in the Documents box in the top right corner.