MPC Energy Solutions (MPCES), known for its leadership in the energy sector, has officially announced the start of construction of the solar plant in Guatemala, called “San Patricio Renovables” which will generate 65 MWp, with the use of photovoltaic modules and essential equipment for its operation.
Construction phases of solar plant in Guatemala
In the words of Stefan HA Meichsner, Chief Financial Officer of MPCES,“This development represents a major milestone in our business trajectory. San Patricio stands out as our most ambitious project to date, demonstrating the expandability of our infrastructure and our ability to implement innovative projects in the region.
It is anticipated that, once operational, this project will provide consistent long-term financial benefits for our shareholders and will contribute to reaching an annual revenue threshold for the group in excess of US$20 million. Completion of the plant is scheduled for mid-2025.“.
Currently, MPCES manages five energy production assets in Latin America and the Caribbean, with a combined capacity of approximately 79 MWp (66 MWp corresponding to MPCES’ share). The inclusion of San Patricio, estimates a significant increase in the company’s production portfolio, almost doubling its installed capacity.
The estimated projections that “San Patricio” will generate are based on annual revenues in excess of US$8 million, with EBITDA margins in excess of 80%. The total investment cost for the construction of the construction of the plant, including financingincluding financing and risk contingencies, is estimated at approximately US$42 million.
An innovative and promising project
Fernando Zúñiga, CEO of MPCES for Latin America and the Caribbean, said: “Our commitment is focused on providing clean and economic energy to the countries of Central America and the Caribbean. With San Patricio, our sixth operational plant, we have demonstrated our ability to develop projects from scratch in approximately 12 months, a remarkable achievement. This success underscores the efficiency of the energy transition when working in a coordinated manner and with committed strategic partners.”
For the realization of this project, MPCES has once again entrusted the Enerland Group with a turnkey contract for the engineering, equipment procurement and construction of the plant. Enerland was also responsible for the construction of the 21.3 MWp Santa Rosa & Villa Sol solar PV plant in El Salvador for MPCES, which began operating in early 2023 after only 12 months of construction.
San Patricio’s energy potential
Once operational, the plant will generate approximately 141 GWh of electricity annually. As announced by MPCES in February 2023, the plant’s entire production will be sold to Ingenio Magdalena SA (IMSA) under a 16-year fixed price power purchase agreement (PPA).
IMSA is the leading producer and exporter of refined sugar in Guatemala and the largest private energy producer in the country, processing 6.5 million tons of sugarcane per year and supplying close to 8% of the country’s energy consumption.
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Source: prnewswire.com
Photo: MPC Energy Solutions
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