May 2019 Financial News

Ansa McAL Limited - Joint Venture between ANSA McAL Limited and MPC Caribbean Clean Energy Fund

May 03, 2019

MPC Capital’s investment platform for renewable energies in the CARICOM region, MPC Caribbean Clean Energy Fund and ANSA McAL Limited (“ANSA McAL”), Trinidad and Tobago’s largest conglomerate with companies throughout the Caribbean, have closed the acquisition of the 21 MW wind farm Tilawind at a transaction value of approximately USD 50 million. ANSA McAL’s equity interest amounts to USD$6.8 million.

The wind farm which has been operational since 2015 is located in Tilarán, Guanacaste, a province in north-western Costa Rica. Over calendar year 2018, Tilawind exceeded forecasted expectations and currently has the potential for future expansion of its peak capacity.

Through the joint venture (“JV”) with MPC Caribbean Clean Energy Fund, ANSA McAL provides alignment with the fund’s investment strategy to support high quality assets with strategic regional partners. Tilawind is ANSA McAL’s first acquisition of this nature and underpins the group’s entry into the renewable power sector. This is the second investment for the MPC Caribbean Clean Energy Fund, following that made in the 51 MWp Paradise Park Solar PV greenfield project in Jamaica. Both ANSA McAL and MPC Caribbean Clean Energy Fund are eager to explore additional greenfield and brownfield renewable energy investments within Costa Rica and the wider region.

 

Source:
The Trinidad and Tobago Stock Exchange Limited
Friday 03 May, 2019