Delphos Advises MPC Energy Solutions on a USD 34 million Non-Recourse Project

Delphos Advises MPC Energy Solutions on a USD 34 million Non-Recourse Project Financing for the Construction of a 66MWp Solar PV plant in Guatemala.
 
DELPHOS, Ohio - June 12, 2024 - PRLog -- Delphos, a leading emerging market financial advisory firm, announces the closing of a USD 34 Million non-recourse project financing for the construction of Guatemala's 66MWp solar PV plant San Patricio. Delphos takes the exclusive advisory role to secure a landmark financing package for MPC Energy Solutions ("MPCES"), a leading Independent Power Producer (IPP). The deal marks the first-ever non-recourse senior debt project financing secured from Banco de América Central, ("BAC") in Guatemala (part of the BAC Financial Group).  MPCES will use the debt facility to construct a 66 MWp solar PV plant in Guatemala which will enter operations by mid-2025.  The innovative transaction with BAC allows MPCES to grow its renewable portfolio and marks MPCES's continued commitment to the region.

In addition to promoting clean energy generation, the San Patricio project will significantly contribute to reducing CO2 emissions and diversifying Guatemala's energy mix. This is particularly important given that Guatemala's electric sector has been dominated by hydroelectric and coal generation, which accounted for 39% and 16%, respectively, of the country's electricity production in 2023.

"At BAC, we are committed to support initiatives that promote sustainable development and create prosperity in Guatemala and the Central America & Panama Region. This project exemplifies our dedication to support financial solutions that deliver triple positive value: social, economic, and environmental. Our aspiration is to become the first bank to achieve a Net Positive impact and to inspire other industries to achieve this goal", stated Eric Campos Morgan, CEO of BAC Guatemala

Fernando Zúñiga, MPCES's Managing Director for Latin America and the Caribbean, states, 'Our mission is to provide clean and affordable energy to Central America and the Caribbean. San Patricio, our sixth power plant, is starting construction after an impressive greenfield development of just 12 months. We are very thankful to all our stakeholders and BAC for their trust in MPCES.  This accomplishment showcases the effectiveness of collaborative efforts and exceptional partners like Delphos.

The San Patricio project will not only enhance Guatemala's energy infrastructure but also foster economic growth in the region by generating employment throughout its construction and operational stages. Furthermore, it will play a crucial role in diminishing reliance on conventional energy sources and encouraging the uptake of renewable technologies nationwide.

For Full Release - https://www.impactnews-wire.com/delphos-advises-mpc-energy-solutions-on-a-usd-34-million/

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