MPC Energy Solutions announced that it has started construction of its 65 MWp solar photovoltaics ("PV") plant San Patricio Renovables in Guatemala. The Company issued a limited notice to proceed to the project's turnkey EPC contractor and thereby secured very competitive prices for PV modules and other critical equipment required for the project MPCES owns and operates five power-producing assets across Latin America and the Caribbean with an aggregate capacity of around 79 MWp (proportionate share MPCES: 66 MWp). San Patricio will be a significant addition to the production portfolio and nearly double the Company's installed capacity.

San Patricio alone is expected to generate revenues of more than USD 8 million per year at EBITDA margins above 80%. The total investment costs for the construction of the plant, including financing costs and risk contingencies, will be around USD 42 million.