MPC Energy Solutions signs long-term agreement with IMSA Group
Published by Jessica Casey,
Editor
Energy Global,
MPC Energy Solutions (MPCES) has announced its entry into Guatemala after signing a long-term power purchase agreement (PPA) with Comercializadora de Energía Para el Desarrollo S.A., a subsidiary of Ingenio Magdalena S.A. (IMSA Group), the country’s leading producer and exporter of refined sugar, alcohol, and energy. The planned solar photovoltaic (PV) project will have an installed capacity of 65 MWp. Development of the project will begin immediately, and MPCES targets to start construction in 12 months.
The off-taker is a subsidiary of IMSA Group. The group, which processes 6.5 million tpy of sugarcane, is also the largest private energy producer in Guatemala. IMSA Group also supplies 8% of Guatemala's total energy consumption. The group has a total annual turnover of around US$500 million.
The announcement comes as MPCES continues to expand its operations across Latin America and the Caribbean, with projects now under development, construc-tion, or operation in eight countries across the region. This new project shows the growing private corporate PPA demand in Central America, and is the largest secured PPA of MPCES to date.
Fernando Zuniga, Managing Director for Latin America and the Caribbean at MPCES, said: “Establishing development activities in Guatemala demonstrates how MPCES is spearheading the drive to meet high demand for renewable energy in Central America, as countries across the region seek to decarbonise energy production. Signing the PPA is a testament to our capability of originating new projects and providing tailored solutions to leading private off-takers.”
Jorge Leal, CEO of Ingenio Magdalena S.A., added: “We are excited to partner with MPCES for this important and innovative project. This PPA is a milestone for IMSA Group as it confirms our commitment to help accelerate the energy transition in Guatemala. We believe that this can be the starting point of a very important co-operation between our two companies.”
With the announcement of this new project, MPCES strengthens its presence in the region and underlines its ability to develop, finance, build, and operate assets as a full-cycle independent power producer.
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Read the article online at: https://www.energyglobal.com/solar/22022023/mpc-energy-solutions-signs-long-term-agreement-with-imsa-group/
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