19.12.2016
MPC Münchmeyer Petersen Capital AG DE000A1TNWJ4
DGAP-News: MPC Capital launches Caribbean Renewables Platform and acquires stake in a solar PV project in Jamaica
DGAP-News: MPC Münchmeyer Petersen Capital AG / Key word(s): Miscellaneous
MPC Capital launches Caribbean Renewables Platform and acquires stake in a
solar PV project in Jamaica
19.12.2016 / 09:57
The issuer is solely responsible for the content of this announcement.
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MPC Capital launches Caribbean Renewables Platform and acquires stake in a
solar PV project in Jamaica
- Investment platform for renewable energy projects
- Acquisition of a 50 MWp solar PV project in Jamaica
- Investment volume of USD 50 million
Hamburg, 19 December 2016 - The Hamburg based asset and investment manager
MPC Capital is launching an investment platform for renewable energy
projects in the Caribbean. As an initial project, MPC Capital is acquiring
a stake in the "Paradise Park" 50 MWp solar plant on the Caribbean island
of Jamaica. Therefore MPC Capital has structured and will be a co-investor
in a joint investment vehicle which will hold just under 50 % in the
project company. The total investment volume amounts to some USD 50
million.
Construction work on the solar plant in Westmoreland, in the southwest of
Jamaica, is scheduled to begin mid-2017. Connection to the grid is planned
for 2018. With a gross capacity of 50MWp, once completed, the park will be
the largest photovoltaic power plant in the island nation. The plant will
operate under a Power Purchase Agreement (PPA) with the Jamaican Public
Service Company (JPS) for a period of 20 years. The project is being
developed by the French independent power producer Neoen, along with its
local development partner, Rekamniar Frontier Ventures. Neoen will hold the
majority stake in the project company.
"The Paradise Park project is an important milestone in implementing our
investment strategy for infrastructure projects in emerging markets,"
remarked Dr Roman Rocke, Management Board member of MPC Capital AG. "The
region is a very attractive one for the construction of solar plants. Power
generation costs in the Caribbean are high, so forms of renewable energy
are generally very competitive. Paradise Park will also play an important
part in the diversification of Jamaica's energy supply mix to reduce cost
and dependence on imported oil."
About MPC Capital AG (www.mpc-capital.de)
MPC Capital AG is an independent asset and investment manager for real
asset investments. Together with its subsidiaries, the company develops and
manages real asset investments and investment products for international
institutional investors, family offices and professional investors. Its
focus is on the asset categories Real Estate, Shipping and Infrastructure.
MPC Capital AG has been quoted on the stock exchange since 2000 and has
around 240 employees group-wide.
Contact
MPC Capital AG
Stefan Zenker
Head of Investor Relations & Public Relations
Tel. +49 40 38022-4347
e-mail: [email protected]
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19.12.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: MPC Münchmeyer Petersen Capital AG
Palmaille 75
22767 Hamburg
Germany
Phone: +49 (0)40 380 22-0
Fax: +49 (0)40 380 22-4878
E-mail: [email protected]
Internet: www.mpc-capital.de
ISIN: DE000A1TNWJ4
WKN: A1TNWJ
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange;
Open Market (Entry Standard) in Frankfurt
End of News DGAP News Service
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531079 19.12.2016
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