MPC Energy Solutions enters Panama, with eyes on 70 MWp of solar

May 15, 2023 04:02 PM ET
  • Low-carbon energy facilities programmer MPC Energy Solutions (MPCES) announced today it is setting foot in the market of Panama where it, along with companions, has actually already recognized solar opportunities with an incorporated capacity of 60 MWp-70 MWp.
MPC Energy Solutions enters Panama, with eyes on 70 MWp of solar

The company stated in a statement it is instantly beginning deal with the growth of the identified ground-mount photovoltaic or pv (PV) projects, with a plan to further grow its regional pipeline both organically and also through acquisitions.

MPC's goal is to reach 800 MW of shovel-ready projects in the region by 2025 and to accomplish 1 GW of lasting energy assets throughout Latin America and the Caribbean by 2027.

"In line with our organization method and also geographical emphasis, we are committed to developing projects situated in Panama and other Latin American and also Caribbean countries," commented Fernando Zuniga, taking care of director for Latin America and Caribbean.

Panama has made a dedication for 50% of its generation capacity in 2050 to find from renewables, including solar and wind. Zuniga outlined a couple of essential vehicle drivers for the company's decision to select Panama, including its exceptional solar irradiation, well-functioning as well as fully grown electrical power market for independent power producers (IPPs), power acquisition agreement (PPA) as well as spot market settlements in USD as well as, according to him, the region's most affordable cost of financial debt funding.

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