MPC ENERGY SOLUTIONS N.V. Amsterdam /Oslo -26 February 2024 -MPC Energy Solutions ("MPCES", "Company") announced today that it has started construction of its 65 MWp solar photovoltaics ("PV") plant San Patricio Renovables inGuatemala . 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. "We are thrilled to achieve another significant milestone in our company's history. San Patricio is by far our largest project to date, demonstrating the scalability of our existing setup and emphasizing our ability to successfully develop greenfield projects in the region. Once operational, the project is expected to deliver long-term stable financial returns to our shareholders and will help us surpass theUSD 20 million annual group revenue threshold. The construction of the solar PV plant is expected to be completed by mid-2025", saidStefan H.A. Meichsner , Chief Financial Officer of MPCES. MPCES today owns and operates five power-producing assets acrossLatin America and theCaribbean 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 thanUSD 8 million per year at EBITDA margins above 80 percent. The total investment costs for the construction of the plant, including financing costs and risk contingencies, will be aroundUSD 42 million . Fernando Zuñiga, MPCES's Managing Director forLatin America and theCaribbean , added: "It is our mission to provide clean and affordable energy to countries acrossCentral America and theCaribbean . San Patricio will be our sixth operational power plant once completed. The greenfield development only took around 12 months, which is truly a great accomplishment. It shows how quickly the energy transition can be implemented if all involved parties work focused and hand-in-hand, and that we have found great partners for this project." MPCES has signed a turnkey contract with theEnerland Group for the engineering, equipment procurement, and construction of the plant. Enerland also built the 21.3 MWp solar PV plantSanta Rosa &Villa Sol inEl Salvador for MPCES, which commenced operations in early 2023 after just 12 months of construction. Once operational, the plant is expected to generate around 141 GWh of electricity per year. As announced inFebruary 2023 by MPCES, the output from the plant will be sold entirely toIngenio Magdalena S.A. (IMSA) under a 16-year fixed-price PPA.The IMSA Group isGuatemala's leading producer and exporter of refined sugar. The group, which processes 6.5 million tons of sugarcane per year, is also the largest private energy producer inGuatemala and supplies around 8 percent ofGuatemala's total energy consumption from its power generating facilities. MPCES will hold a webcast presenting the 2023 review, strategy update and outlook for 2024 on Monday,26 February 2024 . There will be a Q&A session after the presentation, and a recording of the webcast will be published on the Company's website afterwards. Webcast information: Date: 26 February 2024 Time: 10:00 am CET Duration: 60 minutes incl. Q&A The live webcast can be accessed through the following link: https://hca.videosync.fi/2024-02-26-mpces/register For further information, please contact ir@mpc-energysolutions.com. - ENDS - AboutMPC 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 contactsMPC Energy Solutions N.V. Investor Relations & Public Relations Email: ir@mpc-energysolutions.comNorway Mats Samdahl Weltz Salto Advisers Phone: +47 950 46330 Email: msw@saltoadvisers.no
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