PORT OF SPAIN, Trinidad, Friday June 29, 2018 – MPC Capital’s investment platform for renewable energies in the CARICOM region, MPC Caribbean Clean Energy Fund, and Trinidad and Tobago’s largest conglomerate ANSA McAL Limited will invest in the operational 21 MW windpark, Tilawind, in Costa Rica.
The joint venture with ANSA McAL is in keeping with MPC Caribbean Clean Energy Fund’s investment strategy to support high quality assets with strategic regional partners.
Tilawind is the second acquisition for the MPC Caribbean Clean Energy Fund following its investment in the 51 MWp Paradise Park Solar PV greenfield project in Jamaica.
“With a wind turbine capacity factor of 45 per cent, Tilarán represents an excellent location for the wind farm, which has been operational since 2015 and has the potential to expand its capacity to 40 MW in the future,” a joint statement from the companies said.
Both ANSA McAL and MPC Caribbean Clean Energy Fund said they are eager to explore additional greenfield and brownfield renewable energy investments within Costa Rica and the wider region.
Chief Executive Officer of the ANSA McAL Group, Andrew Sabga, said the goal is to cultivate projects that are profitable for shareholders, generate value for customers and serve as an engine of sustainable development for the Caribbean region.
“Tilawind is a perfect example of that type of project. We are proud to support Costa Rica’s efforts in providing sustainable energy. In addition to expressing thanks to MPC Caribbean Clean Energy Fund for partnering with us on this monumental transaction, we would also like to thank our lender ANSA Merchant Bank Limited for its continuous support throughout the process,” he said.
MPC Renewable Energies originated and structured the transaction and will provide asset management services to both investors. The transaction is subject to customary closing conditions.