December 29 (Renewables Now) – Hamburg-based asset manager MPC Muenchmeyer Petersen Capital AG (ETR:MPCK) on Tuesday announced that the construction of its 6.4-MWp San Isidro solar project in El Salvador had been finalised.
The USD-7.8-million (EUR 6.4m) solar farm is scheduled to reach commercial operation date (COD) in early 2021. Once online, the plant will operate under a 20-year USD-denominated power purchase agreement (PPA) signed with CAESS, a subsidiary of US energy company AES Corp (NYSE:AES).
MPC Capital funded the project through MPC Caribbean Clean Energy Fund LLC and hired Latin American solar and energy efficiency specialist Enertiva SA to provide engineering, procurement and construction (EPC) services.
With construction over, the San Isidro solar farm now becomes part of the investment portfolio owned by MPC Caribbean Clean Energy Fund, the German firm said.
“San Isidro is only our first project in the El Salvador, and we secured additional PPAs for further 20 MWp that we will build in 2021. Our aim is to have an operational portfolio of at least 50 MWp by the end of 2022,” added Martin Vogt, Managing Director of Renewable Energies at MPC Capital.
(USD 1.0 = EUR 0.816)