MPC Caribbean Clean Energy Fund has financially closed Phase II of Monte Plata solar park in the Dominican Republic.
The Phase II attracted a project finance loan from Dutch development finance institution FMO, Panamanian financial institution and asset manager CIFI and the CIFI Sustainable Infrastructure Debt Fund.
MPC Caribbean Clean Energy Fund indirectly holds an approximately 36% asset share in the project.
The Monte Plata solar park, which currently sells all its generated power under a 20-year PPA to the state-owned Dominican Corporation of State Electrical Companies, was the first utility-scale power station in the Dominican Republic and the largest project of its kind in the Caribbean at the time of commissioning in 2016, says MPC.
The project has undergone expansion in Phase II, reaching an installed solar PV capacity of 75.6 MW. This expansion involved securing a new 15-year PPA for an additional 42.2 MW of capacity.
“Over its operational lifespan, the expanded solar park is poised to mitigate the production of nearly 1.5 million tons of CO2 during the life span of 20 years,” says Gözde Kurusoy, MPC’s director of project finance. “The financial closure of Phase II underscores MPC Caribbean Clean Energy Fund’s commitment to the Dominican Republic, fostering economic growth, supporting the transition to a low-carbon economy, and driving positive community and social impact.”
The COD of Phase II is projected to occur in the fourth quarter of next year.
The post MPC Closes Phase II of Monte Plata Solar Park Financing appeared first on Solar Industry.
Can’t swear that this is true but hoping so.
We must never forget.
The more visibility and the more frequent reminders we can get on this catastrophe in U.S. history the better.
It’s almost funny when we hear that California is a socialist state, or a police state (due to our environmental restrictions), or that people are leaving in droves to go to Texas or Florida. When I come across people who say this, I wonder: have you ever actually been to California?
Do you know that the garden-variety 3 BR, 2 BA house here lists at about $1.2 million, where, if it were moved to, say, the Midwest, it would be worth perhaps $2500,000? Why do you think that could possibly be? Maybe the law of supply and demand doesn’t apply to the Marxist part of the nation?
Perhaps it’s because Californians are offered fantastic economic opportunities. We develop and implement ideas that improve the lives of everyone on Earth, and that we profit greatly from our undertakings.
Something for the MAGA crowd to consider.
The main way governments create wealth is by educating people so that they can become productive members of society. They also build roads and airports and maintain law and order so that honest businesses can thrive.
Anyone living now who believes that Elon Musk and Jeff Bezos are creating wealth for anyone but themselves is a total fool.
A ton of people bought into the concept expressed here in the mid-20th Century, but no semi-intelligent person today believes that tax breaks for billionaires/trillionaires generates a nickel for the common person.
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