MPC Energy Solutions completes construction and connects 12.3 MW solar plant in Colombia

AMSTERDAM and OSLO, Norway, March 27, 2023 /PRNewswire/ -- MPC Energy Solutions (MPCES) has announced the completion of construction and grid connection for its Parque Solar Los Girasoles, a solar photovoltaic (PV) plant in Colombia, with an installed capacity of 12.3 MW. Parque Solar Los Girasoles is the third project in the Company's portfolio to commence operations this year, following Santa Rosa & Villa Sol in El Salvador, and Neol CHP in Puerto Rico, and the fourth operational plant overall.

MPC Energy Solutions is selling the generated power through a long-term power purchase agreement (PPA) with Spectrum, a leading Colombian energy trading firm and electricity supplier. Parque Solar Los Girasoles is located in Colombia's region of Norte de Santander and will supply around 23 GWh of solar energy per year, helping avoid the emission of close to 100,000 tons of CO2 throughout its lifetime. The project is expected to generate an annual revenue of around USD 1.3 million during the PPA tenor.

"Parque Solar Los Girasoles is a significant milestone for Colombia's renewable energy targets, and a testament to our commitment to helping diversify the energy mix in the country and across Latin America", said Juan Esteban Hernández, Head of Project Development LATAM of MPC Energy Solutions. "We are excited to see our portfolio of operational projects grow and contribute to the region's energy resilience and next-generation infrastructure."

"We are proud to partner with a global sustainable energy provider to power up a solar PV plant in Colombia. The project will help the country make significant strides toward achieving its target of becoming carbon neutral by 2050", said André Fraga, CEO at Spectrum. "Parque Solar Los Girasoles also plays a significant role in supporting Spectrum to become Colombia´s first 100% renewable energy supplier."

MPC Energy Solutions invested USD 11 million equity to develop and construct the project and intends to secure debt financing post commissioning. Colombian company Socolco S.A.S. acted as the engineering and construction (E&C) contractor, and key components, such as solar panels, were supplied by TRINA and inverters by Huawei, were procured by MPCES directly.

MPCES Capital Markets Day Webcast

MPC Energy Solutions is hosting a Capital Markets Day on Wednesday, 29 March, where the senior management will provide a deep insight into MPCES' strategy, the operational progress, share updated financial guidance and speak about the regional market, financing environment and the company's future funding plans. The webcast will be held from 1 pm (CET) to 3 pm (CET).

Details on the agenda as well as the registration link to the Webcast is available here: https://www.mpc-energysolutions.com/company/capital-markets-day

About MPC Energy Solutions
MPC Energy Solutions ("MPCES") is a global provider of sustainable energy and primarily focuses on low-carbon energy infrastructure, including solar and wind farms, and other hybrid and energy efficiency solutions. The Company participates in the full project lifecycle of renewable solutions, from early-stage development through construction and operation. More details at www.mpc-energysolutions.com

Media contacts

MPC Energy Solutions N.V.

Investor Relations & Public Relations
Email: ir@mpc-energysolutions.com

Norway

Jo Christian Lund-Steigedal
Corporate Communications AS
Phone: +47 415 08733
Email: jcs@corpcom.no

United Kingdom
Judith Ugwumadu
Montieth & Company
Phone: +44 7774 985705
Email: jugwumadu@montiethco.com

Americas
Perry Goldman
Montieth & Company
Phone: +1 (646) 8643568
Email: pgoldman@montiethco.com

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