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German firm MPC Capital closed the sale of Paradise Park, Jamaicas largest solar photovoltaic park, to InterEnergy Group. The project was developed in partnership with Neoen and financed by European development banks. MPC Capital, a global investment and asset manager, has announced the sale of the Paradise Park solar plant, located in Westmoreland, Jamaica, to InterEnergy Group. Paradise Park, with an installed capacity of 51 MWp, is the largest photovoltaic plant on the island and one of the most significant projects in the Caribbean. The transaction was carried out through MPC Caribbean Clean Energy Limited, which held a 34.4% stake in the asset. The sale of MPC Caribbean Clean Energy Limiteds stake in Paradise Park was completed for $5.9 million, according to company reports. Neoen, which owns 50% of the asset, and Rekamniar Frontier Ventures, with 15.6%, complete the parks shareholding structure. InterEnergy Group, the new owner, operates energy solutions in Latin America and the Caribbean, thus strengthening its presence in the regional electricity sector. Paradise Park broke ground in 2018 and began operations in 2019. It was MPC Caribbean Clean Energy Limiteds first project in the region. The solar park was developed in collaboration with French company Neoen and local developer Rekamniar Frontier Ventures. Financing was provided by French development bank Proparco and Dutch development bank FMO. The project has a 20-year power purchase agreement with the Jamaica Public Service Company (JPS) at a price of $85 per MWh and can supply electricity to more than 40,000 Jamaican homes. The plant occupies approximately 81 hectares and was built by Eiffage Energia and Schneider Electric France. Headquartered in Hamburg, with over 300 employees, MPC Capital manages assets worth €5.1 billion in the maritime and energy sectors. The company also develops infrastructure and energy projects in Latin America and the Caribbean, where it maintains investments in Jamaica, the Dominican Republic, El Salvador, and Costa Rica, totaling 154 MW in operation. |
