Durrant Pate/Contributor

Cross-listed regional energy renewables company, MPC Caribbean Clean Energy Limited (MPCCEL), has converted its US$10-million Convertible Promissory Note held by RBC Trust (Trinidad & Tobago) into equity.

This has been made available by the early redemption of Promissory Note into ordinary shares. In a post on the Jamaica Stock Exchange (JSE), where its shares are traded, MPCCEL advises that its Board of Directors has approved the deal for the early redemption and conversion of the debt automatically into 10-million Class B Shares.

This is in accordance with the terms of the Note and as set out in the agreement, subject to any regulatory approvals. MPCCEL has advised that upon conversion of the Note, the total issued and outstanding share capital of the company in respect of Class B shares will increase from 26,944,861 to 36,944,861.

This increase will result in RBC holding approximately 27% of the outstanding shares of the company, which is based in St Michael, Barbados, with operations and assets currently located across the Caribbean and Central America, including Jamaica, the Dominican Republic, Costa Rica, El Salvador, and Trinidad and Tobago. 

MPCCEL intends to apply to list the new shares on the JSE and Tobago Stock Exchange, where its shares are traded. The company was founded in 2017 and operates as an investment fund that sources projects, develops, finances, constructs and operates renewable energy projects throughout the region.

For the quarter ended December 31, 2025, the company reported a narrowed net loss of US$348,000, representing a significant improvement from the US$1.4 million loss in the same period of 2024. For the full year 2025, net investment loss was reduced to US$221,000, compared to a loss of over US$2.2 million in 2024.

In terms of operational output, assets generated roughly 34 gigawatt-hours (GWh) in the December 2025 quarter, avoiding over 12,000 tonnes of carbon emissions.