MPC Capital commissions 43-MW solar farm in Dominican Republic

German infrastructure investor and asset manager MPC Capital AG (ETR:MPCK) has brought online a 43-MW addition to the Monte Plata solar farm in the Dominican Republic, the firm announced on Monday.

Monte Plata II represents an investment of around USD 45 million (EUR 40.6m) by the firm’s MPC Caribbean Clean Energy fund, with financing provided by development finance institutions, MPC Capital said.

Now operational, the new solar farm will be capable of generating 67 MWh, It joins the existing 33.4-MWp Monte Plata plant, which is part-owned by the MPC group through its Caribbean fund.

Monte Plata II will deliver its electricity to a utility off-taker under a 15-year power purchase agreement (PPA).

“Bringing Monte Plata II from the early development stages to operation highlights our expertise and extensive network in the Latin American market. We have built a strong track record across the entire value chain, including development, financing, as well as contracting long-term cash flows through the structuring of PPAs,” said Constantin Baack, CEO of MPC Capital.

“We are dedicated to leverage this experience as we expand into the European energy market,” Baack added.

(USD 1.0 = EUR 0.903)

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