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DOM | May 13, 2022

MPC Caribbean Clean Energy completes acquisition of Monte Plata solar plant

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Plant will help to avoid 1.71 million tons of CO2 emissions

Durrant Pate/Contributor

Caribbean renewable energy company, MPC Caribbean Clean Energy Limited has completed the acquisition of the 33.4 MW solar park Monte Plata in Dominican Republic.

The purchase, which was made on June 1 last year, was completed last Saturday (May 9).

The solar park started its commercial operation on September 1, 2021.

Monte Plata solar park will help to avoid an estimated of 1,716,000 tons of CO2 emissions throughout its lifetime.

The acquisition was executed by MPC Caribbean Clean Energy Fund LLC, the investment company of MPC Caribbean Clean Energy Limited.

This was the second solar plant that MPC Caribbean Clean Energy purchased last year.

Earlier in 2021, the renewable energy company, which is cross-listed on the Jamaican and Trinidad and Tobago stock exchanges, purchased San Isidro, a 6.5 MW solar park in El Salvador.

The solar park in El Salvador underperformed in the early part of 2021 with a plant availability and production output below target. However, this was not unusual during the start-up phase of such operations.

OWNS AND OPERATES PARADISE PARK

MPC Caribbean Clean Energy also owns and operates the Paradise Park solar plant in Jamaica, where the technical performance of the solar park last year met expectations.

This occurred despite difficult circumstances encountered during the period.

In spite of the difficulties encountered, the Jamaica-based solar plant availability and the production output were above target.

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