Sol to Sol: MPC starts up El Salvador PV projects totaling 21.3 MW

Feb. 7, 2023
The combined 45.7 GWh of solar energy produced by the two plants in the first year is expected to bring in an annual revenue of around $4.4 million. And they will prevent the emission of nearly 112,000 tons of CO2 each year

Dutch sustainable energy provider MPC Energy Solutions has begun operations at its Santa Rosa and Villa Sol solar photovoltaic (PV) plants in El Salvador.

The plants are sited in the Quezaltepeque region of the country and have a total installed capacity of 21.3 MW. These represent the third and fourth projects in the company’s portfolio to start operations, following the acquisition of Los Santos I in Mexico in February 2022 and the start of energy delivery at Neol CHP in Puerto Rico in January 2023.

The energy generated will be sold via a 20-year USD-denominated power purchase agreement with CAESS, a subsidiary of U.S. energy firm AES Corporation.

The combined 45.7 GWh of solar energy produced by the two plants in the first year is expected to bring in an annual revenue of around $4.4 million. Additionally, the projects offer substantial environment benefits, preventing the emission of nearly 112,000 tons of CO2 each year.

The total investment cost for Santa Rosa and Villa Sol solar PV plants were $24.5 million, with Banco Agrícola, a wholly-owned subsidiary of Bancolombia, providing $18.3 million of project financing under a 15-year amortizing agreement.

Enerland Group acted as engineering and construction contractor, while MPC Energy Solutions handled construction management services and sourced key components, such as solar panels from Canadian Solar and inverters from Huawei.

“We are excited to see our Santa Rosa and Villa Sol solar PV plants complete construction and come online just 12 months after financial close,” Luis Marquez, Head of Construction of MPC Energy Solutions, said. “These activations were finalized fully within our established budget, a significant achievement for all parties involved.”

MPC Energy Solutions is a Netherlands-based 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.