MPC Caribbean-led group to buy 33.4-MWp solar farm in Dominican Republic

• MPC Caribbean Clean Energy Fund LLC, part of German asset management group MPC Capital AG (ETR: MPCK) and also its Caribbean financial investment operations, has authorized an agreement to acquire a portion of a 33.4-MWp operating solar farm in the Dominican Republic.

The fund leads an equity consortium together with Trinidad and also Tobago-based business group ANSA McAL Limited (TTSE: AMCL) as well as two unrevealed minority financiers from the Dominican Republic as well as Canada, which has set out to acquire the plant in full. The supplier is Taiwanese photovoltaic panel manufacturer United Renewable resource Carbon Monoxide Ltd (TPE:3576).

The financial terms were not divulged.

The tidy energy fund will indirectly own a stake in the park to the tune of 36% complying with the close, its parent company, MPC Caribbean Clean Energy Ltd (JSE: MPCCEL), stated on Friday.

The targeted property is the Monte Plata solar farm. The plant was commissioned in 2016 as well as operates under a 20-year USD-denominated power purchase arrangement (PPA) with state-owned power holding Dominican Corporation of State Electrical Companies.

The solar farm's dimension will increased to 74 MWp by 2022, the Caribbean-focused capitalist said.

The purchase is anticipated to be settled in the 3rd quarter of 2021, as soon as all normal conditions are satisfied.