Leading IPP selects Delphos as exclusive financial advisor.

Delphos, a leading emerging market financial advisory firm, announces the closing of a USD 34 Million non-recourse project financing for the construction of Guatemala’s 66MWp solar PV plant San Patricio. Delphos takes the exclusive advisory role to secure a landmark financing package for MPC Energy Solutions (“MPCES”), a leading Independent Power Producer (IPP). The deal marks the first-ever non-recourse senior debt project financing secured from Banco de América Central, (“BAC”) in Guatemala (part of the BAC Financial Group).  MPCES will use the debt facility to construct a 66 MWp solar PV plant in Guatemala which will enter operations by mid-2025.  The innovative transaction with BAC allows MPCES to grow its renewable portfolio and marks MPCES’s continued commitment to the region. 

In addition to promoting clean energy generation, 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 electric sector has been dominated by hydroelectric and coal generation, which accounted for 39% and 16%, respectively, of the country’s electricity production in 2023.

“At BAC, we are committed to support initiatives that promote sustainable development and create prosperity in Guatemala and the Central America & Panama Region. This project exemplifies our dedication to support financial solutions that deliver triple positive value: social, economic, and environmental. Our aspiration is to become the first bank to achieve a Net Positive impact and to inspire other industries to achieve this goal”, stated Eric Campos Morgan, CEO of BAC Guatemala

Fernando Zúñiga, MPCES’s Managing Director for Latin America and the Caribbean, states, ‘Our mission is to provide clean and affordable energy to Central America and the Caribbean. San Patricio, our sixth power plant, is starting construction after an impressive greenfield development of just 12 months. We are very thankful to all our stakeholders and BAC for their trust in MPCES.  This accomplishment showcases the effectiveness of collaborative efforts and exceptional partners like Delphos. 

The San Patricio project will not only enhance Guatemala’s energy infrastructure but also foster economic growth in the region by generating employment throughout its construction and operational stages. Furthermore, it will play a crucial role in diminishing reliance on conventional energy sources and encouraging the uptake of renewable technologies nationwide.

“This transaction is testimony to Delphos’ position as a leading emerging market advisor for energy and infrastructure transactions in Central America and showcases our expertise to structure landmark transactions with top tier lenders in the region to obtain the most competitive financing terms for our clients,” said Delphos Chairman 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, combining renewable sources and storage technologies. More details at www.mpc-energysolutions.com

About Delphos:

Delphos is the definitive source for arranging innovative financial solutions for development companies and projects.  We specialize in raising long-term, competitively priced capital for corporates, fund managers, developers, SMEs, sovereigns, and entrepreneurs around the world. Since 1987, we have arranged more than $20 billion in development finance to support the efforts of over 1,200 companies. We tap into the resources of more than 350 government agencies and multilateral organizations worldwide to help clients realize their international business goals and have sustainable impact. In addition to our capital raising efforts, Delphos provides market-leading transaction advisory and investment/risk management consulting services to government and private sector clients across multiple 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, and foreign governments and utilities. www.delphos.co

About BAC:

BAC is the leading bank in Central America, with a presence in all six countries of the region. It has over 4.9 million customers and more than 20,000 employees, serving over 100,000 businesses. BAC’s purpose is to “Reimagine 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 and with the same rigor and excellence. www.baccredomatic.com

Media Contact:

Caroline King, [email protected]   +44 203 239 6827 (UK)  +1 917 720 3469 (USA)