MPC Energy starts building 65-MWp solar farm in Guatemala

Low-carbon energy infrastructure developer MPC Energy Solutions (MPCES) announced today the start of construction works on a 65-MWp solar project in Guatemala, the largest project in its portfolio so far.

The USD-42-million (EUR 38.7m) San Patricio Renovables plant is expected to be finalised by mid-2025. Once operational, it is expected to produce about 141 GWh of clean electricity annually and generate more than USD 8 million in annual revenue at EBITDA margins of above 80%.

The engineering, procurement and construction (EPC) contractor for the project is Enerland Group.

San Patricio’s development was supported by a 16-year power purchase agreement (PPA) with Guatemalan private energy, refined sugar and alcohol producer Ingenio Magdalena SA (IMSA Group). The latter contracted 135 GWh of the site’s annual output under a deal announced in February 2023.

“The project is expected to deliver long-term stable financial returns to our shareholders and will help us surpass the USD 20 million annual group revenue threshold,” said MPCES’ chief financial officer Stefan Meichsner.

MPCES currently owns and operates five power-producing assets across Latin America and the Caribbean with an aggregate capacity of about 79 MWp.

In December, MPCES commissioned a 26.7-MW solar plant in Colombia which was jointly developed in partnership with French renewables developer and operator Akuo Energy.

(USD 1 = EUR 0.923)

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