Delphos advises MPC Energy Solutions in the amount of $34 million

Leading IPP selects Delphos as exclusive financial advisor.

WASHINGTON, May 30, 2024 (GLOBE NEWSWIRE) — Delphos, a leading financial advisory firm in emerging markets, announces the finalization of financing for a $34 million non-recourse project to build a 66 MWp solar power plant in Guatemala in San Patricio. Delphos is taking on an exclusive advisory role to secure a breakthrough financing package for MPC Energy Solutions (“MPCES”), a leading independent power producer (IPP). This transaction represents the first-ever project financing in the form of senior non-recourse debt secured by Banco de América Central (“BAC”) in Guatemala (part of the BAC financial group). MPCES will use the loan to build a 66 MWp photovoltaic power plant in Guatemala, which will begin operations in mid-2025. The innovative transaction with BAC allows MPCES to develop its renewable energy portfolio and signifies MPCES’ continued commitment to the region.

In addition to promoting clean energy production, the San Patricio project will significantly contribute to reducing CO2 emissions and diversifying Guatemala’s energy mix. This is particularly important given that Guatemala’s electricity sector has been dominated by hydropower and coal-fired power plants, which accounted for 39% and 16% of national electricity production in 2023, respectively.

“At BAC, we are committed to supporting initiatives that promote sustainable development and create prosperity in Guatemala and the Central American and Panama region. This project is an example of our commitment to supporting financial solutions that deliver triple positive value: social, economic and environmental. Our aspiration is to become the first bank to achieve net positive impact and inspire other industries to achieve this goal,” said Eric Campos Morgan, CEO of BAC Guatemala.

Fernando Zúñiga, managing director of MPCES for Latin America and the Caribbean, states: “Our mission is to bring clean and affordable energy to Central America and the Caribbean. San Patricio, our sixth power plant, is starting construction after an impressive greenfield development in just 12 months. We are very grateful to all our stakeholders and BAC for their confidence in MPCES.” This achievement demonstrates the effectiveness of collaborative efforts and exceptional partners such as Delphos.

The San Patricio project will not only improve Guatemala’s energy infrastructure, but will also promote economic growth in the region by creating jobs at all stages of construction and operation. Additionally, it will play a key role in reducing dependence on conventional energy sources and encouraging the use of renewable technologies across the country.

“This transaction reaffirms Delphos’ position as a leading emerging market advisor on energy and infrastructure transactions in Central America and demonstrates our expertise in structuring breakthrough transactions with leading lenders in the region to obtain the most competitive financing terms for our clients.” said Delphos president and CEO Bart Turtelboom.

About MPC energy solutions:

MPC Energy Solutions (“MPCES”) develops, builds, owns and operates renewable energy assets, including utility-scale solar photovoltaics (PV) and onshore wind farms, energy efficiency solutions and hybrid projects that combine renewables and storage technologies. More details at www.mpc-energysolutions.com

About Delphos:

Delphos is the ultimate source for organizing innovative financial solutions for companies and development projects. We specialize in raising long-term, competitively priced capital for corporations, fund managers, developers, SMEs, countries and entrepreneurs around the world. Since 1987, we have provided more than $20 billion in development financing to support the efforts of more than 1,200 companies. We draw on the resources of more than 350 government agencies and multilateral organizations around the world to help clients achieve their international business goals and create lasting impact. In addition to its capital raising efforts, Delphos provides market-leading transaction advisory and investment/risk management consulting services to government and private sector clients across a wide range of industries. We are approved advisors to AfDB, US-DFC, IDB Invest, IFC, USAID, US Ex-Im Bank, USTDA, WBG, leading private equity firms, infrastructure developers and strategic investors, as well as foreign governments and utilities. www.delphos.co

About BAC:

BAC is the leading bank in Central America, with a presence in all six countries in the region. It has over 4.9 million customers and over 20,000 employees, serving over 100,000 companies. BAC’s goal is to “redesign banking to generate prosperity in the communities it serves.” Guided by the values ​​of integrity, excellence and passion, it aims to be a pioneer and demonstrate that banking can maximize economic, environmental and social value simultaneously, with the same rigor and excellence. www.baccredomatic.com

Contact with the media:

Karolina Król, [email protected] +44 203 239 6827 (UK) +1 917 720 3469 (US)

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/403ec127-a88a-4a40-98d5-6ed29c0b7615