| Work Detail |
MPC Energy Solutions (MPCES or the Company) has initiated the construction phase of its San Patricio Renovables solar photovoltaics (PV) plant in Guatemala, boasting a capacity of 65 MWp. By issuing a limited notice to proceed to the project’s turnkey Engineering, Procurement, and Construction (EPC) contractor, the Company has secured competitive pricing for essential equipment, including PV modules.
Stefan H.A. Meichsner, Chief Financial Officer of MPCES, expressed excitement over this milestone, noting San Patricio as the Company’s largest project to date. He emphasized the project’s significance in showcasing MPCES’s capacity for successful greenfield development in the region. With an anticipated completion date in mid-2025, the plant is poised to deliver stable financial returns, projecting annual revenues exceeding USD 8 million with EBITDA margins above 80 percent.
Once operational, San Patricio will nearly double MPCES’s installed capacity, adding to its existing portfolio of five power-producing assets across Latin America and the Caribbean, totaling approximately 79 MWp.
Fernando Zuñiga, MPCES’s Managing Director for Latin America and the Caribbean, highlighted the Company’s commitment to providing clean and affordable energy to the region. He praised the swift 12-month development timeline as a testament to effective collaboration and partnership.
The Enerland Group has been contracted for engineering, equipment procurement, and construction, leveraging its successful track record with MPCES, including the completion of the 21.3 MWp Santa Rosa & Villa Sol solar PV plant in El Salvador. San Patricio’s anticipated annual electricity generation of approximately 141 GWh will be supplied under a 16-year fixed-price Power Purchase Agreement (PPA) to Ingenio Magdalena S.A. (IMSA), Guatemala’s leading sugar producer and energy supplier, further advancing the country’s energy transition. |
