MPC Energy Solutions (MPCES) and Akuo Energy have started the construction of Parque Solar Planeta Rica, a 26.55 MWp solar photovoltaic (PV) project in Colombia.
The total investment on the Planeta Rica project is approximately US$24 million. MPCES and Akuo Energy are the equity sponsors, whereby the debt financing is provided by Bancolombia. Financial close was achieved in early August 2021.
Energy production from the 26.55 MWp plant is expected to start in early Q3 2022. The project will avoid the emission of over 4,000 tons of CO2 each year while delivering enough electricity to satisfy the energy needs of over 10,000 households in Colombia. It will sell all generated electricity under a 15-year Power Purchase Agreement (PPA) to a leading regional utility.
