Monte Plata Solar: Caribbean-Based MPC Reaches Fin Close
Dec 27, 2023 12:53 PM ET
- MPC Caribbean Clean Energy Fund secures financing for phase II of its Monte Plata solar farm in the Dominican Republic. Expansion to 75.6 MWp capacity with PPA monetisation expected to be operational in 2024. German asset and investment manager MPC Capital AG leads the project.
MPC Caribbean Clean Energy Fund has secured the financing for phase II of its partially-owned Monte Plata solar farm in the Dominican Republic. The firm obtained a project finance loan from FMO, CIFI, and the CIFI Sustainable Infrastructure Debt Fund. Phase II will expand the solar farm's capacity to 75.6 MWp and monetise additional 42.2-MWp capacity under a 15-year US-dollar denominated PPA. It is expected to reach commercial operation date in the fourth quarter of 2024. MPC Caribbean Clean Energy Fund is part of German asset and investment manager MPC Capital AG.
What Financing Is Secured for MPC's Monte Plata Solar Farm?
- FMO: A Netherlands-based development bank committed to financing the Monte Plata Solar Farm with a secured loan.
- CIFI: A Mexican financial institution providing loan to MPC Caribbean Clean Energy Fund.
- CIFI Sustainable Infrastructure Debt Fund: Provided loan to MPC Caribbean Clean Energy Fund.
- 15-year US-dollar denominated PPA: A long-term contract with a fixed price of electricity, monetising additional 42.2-MWp of capacity.
- Commercial Operation Date: Estimated to reach fourth quarter of 2024.
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