MPC Capital AG has completed the construction of its solar park in El Salvador.

The San Isidro solar park, funded by MPC Caribbean Clean Energy Fund to the tune of $7.8 million, is the asset and investment manager’s third operational renewable energy project in the region.

The commercial operation date is scheduled for early 2021 when the solar park is set to provide 6.4 MWp of power, while avoiding an estimated of 36,000 tons of CO2 emissions throughout its lifetime.

Following its construction, the solar park will become part of the investment portfolio owned by MPC Caribbean Clean Energy Fund LLC.

Once commissioned, a 20-year USD-denominated power purchase agreement (PPA) with CAESS, the local subsidiary of the US-based energy company AES Corporation, will begin.

Outlining future plans, Martin Vogt, managing director of renewable energies at MPC Capital, explained: “San Isidro is only our first project in the El Salvador, and we secured additional PPAs for further 20 MWp that we will build in 2021. Our aim is to have an operational portfolio of at least 50 MWp by the end of 2022.”

Juan Esteban Hernández, Head of Project Development at MPC Capital, added: “The successful completion of the San Isidro solar park, given the difficult weather conditions and complications due to the global pandemic, is no small feat. All development and construction teams and project partners have done an incredible job to ensure we can deliver a project that is key to the transition from fossil fuels to cleaner energy.”