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The closing of the acquisition is expected to take place in Q1 2022 and is subject to customary conditions. Government's Development Finance Corporation (DFC) and the North American Development Bank (NADB).
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MPC Energy Solutions has acquired full ownership of the project and 20-year project financing has been provided by the U.S. The project, which was financed and built by multinational renewable energy project developer Buenavista Renewables (BRV), has a USD-denominated Power Purchase Agreement (PPA) with German cable manufacturer Leoni Cable and the International De La Salle Educational Network. It reinforces our position as a leader in the region's renewable energy market with close to 11,000 MW of installed wind and solar PV capacity and potential for further growth given the abundance of resources and demand for clean energy from the private and public sectors," said Martin Vogt, CEO at MPC Energy Solutions.
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This deal is another confirmation that we are on track to deliver on our project pipeline, implying 177 MW installed capacity and USD 40 million of asset-level revenue by the end of 2023. "The acquisition of Los Santos Solar I marks our entry into the Mexican renewables market, further strengthening our regional presence which now spans six countries across Latin America and the Caribbean. The project is included in MPCES's communicated advanced backlog. The solar photovoltaic (PV) project, located in Ahumada, Chihuahua, in the North of Mexico, is fully operational since 2017 and has an installed capacity of 15.8 MWp. 9, 2021 /PRNewswire/ - MPC Energy Solutions (MPCES) has entered the Mexican renewable energies market with the acquisition of Los Santos Solar I.