Nov 2024 Financial News

MPC Caribbean Clean Energy Limited - Notice of Proposed Sale of MPCCEL Shareholdings in Paradise Park

Nov 07, 2024

Please be notified that on 31st October 2024 (“Economic Transfer Date”) MPC Caribbean Clean Energy Limited has entered into the Sale Purchase Agreement (“SPA”) to sell its indirect shareholding in Paradise Park (“the Project”) and by Q1 2025 the transaction is expected to be successfully completed (“Closing Date”).

The majority shareholder issued a notice of intention to proceed with a third-party sale process in respect of their shareholding in the Project. Therefore, after receiving the final binding offer along with the notice related to tag-along right, the Board of Directors of MPC Caribbean Clean Energy Limited approved to exercise its tag-along rights to participate in the sale.

In June 2018, MPCCEL acquired shareholding (indirect) in Paradise Park, a 51 MWp solar park in Jamaica which was commissioned in June 2019 and was the first acquisition of the Company.


Source:
The Trinidad and Tobago Stock Exchange Limited
Thursday  7th November, 2024