MPCES Partners with IMSA for Guatemalan Energy Market

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by KnowESG
KnowESG_MPC Energy Solutions
Picture of a solar farm operated by MPC Energy Solutions.

MPC Energy Solutions (MPCES) has recently signed a long-term power purchase agreement (PPA) with Comercializadora de Energía Para el Desarrollo S.A., a subsidiary of the IMSA Group. This move marks MPCES's entry into Guatemala, where IMSA Group is the top producer and exporter of refined sugar, alcohol, and energy.

MPCES plans to develop a solar photovoltaic (PV) project in Guatemala with an installed capacity of 65 MWp. The project's construction is set to begin within a year, and the off-taker will be a subsidiary of the IMSA Group.

The IMSA Group is the country's leading private energy producer and processes 6.5 million tonnes of sugarcane annually, supplying 8% of Guatemala's total energy consumption. The group has an annual turnover of approximately USD 500 million.

The new project is part of MPCES's growing business in Latin America and the Caribbean. The company already has projects in development, under construction, or running in eight countries. This project is the largest secured PPA for MPCES and reflects the increasing demand for private corporate PPAs in Central America.

Fernando Zuniga, the Managing Director for Latin America and the Caribbean at MPCES, emphasised that this project demonstrates the company's ability to meet the growing demand for renewable energy in Central America. He also said that the PPA signing is proof of their capacity to create new projects and deliver tailored solutions to leading private off-takers.

Jorge Leal, CEO of Ingenio Magdalena S.A., said: "We are excited to partner with MPC Energy Solutions on this important and innovative project. This PPA is a big deal for IMSA Group because it shows that we are committed to helping Guatemala speed up the energy transition. We believe this can be the starting point of crucial cooperation between our two companies."

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Source: MPC Energy Solutions

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