MPC targeting 800MW backlog for Latin America, Caribbean

Latin America and Caribbean-focused MPC Energy Solutions plans to invest US$12-15mn in 2023-25 to develop a backlog of 800MW.

At the Amsterdam-based company’s capital markets day presentation, CEO Martin Vogt said the 800MW would be split equally among Colombia, Mexico, Central America, and the Caribbean. 

The Central America focus is primarily on El Salvador, Guatemala, and Panama, while in the Caribbean, the larger islands such as the Dominican Republic and Jamaica are where the interest lies.

The goal is to have 1,000MW in operation by 2027 through an estimated investment of US$1bn. About US$250mn of the capex will come from equity and the rest from farm downs and joint ventures.

Solar would account for 60% of the 1,000MW, followed by battery energy storage (20%), “combined heat-and-power” (10%) and wind (10%).

Fernando Zúñiga, MPC’s managing director for Latin America and the Caribbean, cited opportunities in energy supply auctions such as those underway in Costa Rica, Guatemala and Puerto Rico, and planned bids in Colombia, the Dominican Republic and Jamaica.

The company expects to close the year with an installed capacity of 66MW, reaching 86MW next year and 176MW in 2025.

Among the projects in MPC’s near-term pipeline is a system on St Kitts that will integrate 35.7MWp of solar and 18.2MW of storage. Vogt said completion is scheduled for 2024.

For recent MPC announcements, click on the following links:

MPC Energy Solutions expands further into Puerto Rico as it invests in a new combined heat and power project

MPC Energy Solutions completes construction and connects 12.3 MW solar plant in Colombia

MPC Energy Solutions signs long-term agreement with IMSA Group, enters Guatemalan energy market

MPC Energy Solutions announces the start of operations for its solar plants in El Salvador