MPC Energy Solutions expands further into Puerto Rico as it invests in a new combined heat and power project

AMSTERDAM and OSLO, NORWAY, March 28, 2023 /PRNewswire/ -- MPC Energy Solutions (MPCES) invests in a 2.6 MW grid-tied combined-heat-and-power plant (CHP) development project in Puerto Rico. This is the second project in Puerto Rico for MPC Energy Solutions, following the investment in its Neol CHP plant last year. The new plant will generate electricity using liquefied natural gas (LNG), improving operational efficiencies, and reducing both emissions and power costs. The private off-taker is AMO Manufacturing, a local subsidiary and production facility of Johnson & Johnson Vision.

Under the long-term energy supply agreement, the project will produce power and chilled water. The total investment costs are approximately USD 6 million. MPCES who is a minority shareholder in Enernet Global, acquired a majority position in this development project. Engines from Siemens Energy will help operate the CHP plant, which is expected to commence operations in Q4 2023. The plant is being built by turnkey contractor Teksol.

The CHP plant, located in Añasco, will deliver a minimum power load of 13 GWh a year and 2.6 m tons of chilled water. The project is expected to provide efficiency gains by improving the quality of the energy supply at the location and reduce operating expenditure.

Martin Vogt, CEO at MPC Energy Solutions, said: "The new project is another important step in terms of executing on our project pipeline and demonstrates MPC Energy Solution's continued commitment to Puerto Rico. We are keen to grow our portfolio further to achieve critical size and economies of scale in Puerto Rico."

This new project in MPCES' portfolio comes out of the strategic asset development agreement and strategic partnership with Enernet Global, a distributed energy service company that owns and operates hybrid power systems in Latin America, Africa, Australia and Asia. The partnership provides MPCES with access to the growing microgrid sector in established and new markets.

Paul Matthews, CEO at Enernet Global, said: "We are excited to partner with MPC Energy Solutions for this second CHP project in Puerto Rico. Together with MPCES we continue to support Puerto Rico as it strives to reduce its carbon emissions and make the transition from fossil fuels towards cleaner energies."

Capital Markets Day Webcast

MPC Energy Solutions is hosting a Capital Markets Day on Wednesday, 29 March, where the senior management will provide a deep insight into MPCES' strategy, the operational progress, share updated financial guidance and speak about the regional market, financing environment and the company's future funding plans. The webcast will be held from 1 pm (CET) to 3 pm (CET).

Details on the agenda as well as the registration link to the Webcast is available here

About MPC Energy Solutions

MPC Energy Solutions ("MPCES") is a global 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. More details at www.mpc-energysolutions.com

Media contacts

MPC Energy Solutions N.V.
Investor Relations & Public Relations
Email: ir@mpc-energysolutions.com

Norway
Jo Christian Lund-Steigedal
Corporate Communications AS
Phone: +47 415 08733
Email: jcs@corpcom.no

United Kingdom
Judith Ugwumadu
Montieth & Company
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Americas
Perry Goldman
Montieth & Company
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Email: pgoldman@montiethco.com