MPC Capital targets $90m fund for Caribbean renewables

Over the next two years, MPC Capital aims to raise USD 90 million from US-based impact investors, institutional investors and foundations. The money will be allocated to up to 15 renewable infrastructure projects in the Caribbean. MPC Capital made its first investment in the renewable energy sector in the Caribbean in 2016 and has since then continuously expanded its local footprint and activities. MPC Capital CEO, Ulf Holländer, remarked, “It can be challenging for international investors to navigate through this highly diverse and fragmented region,” he also said, explaining that he hopes his company’s commitment will make it easier for US investors to gain access to the Caribbean market.

The projects, which total approximately 200 MW of installed capacity, will generate clean energy and reduce the region’s dependency on fossil fuel imports. Additionally, MPC Capital’s commitment will benefit the local labor market by creating 1,470 permanent and temporary jobs and providing an additional 1,000 people with training and capacity building opportunities. MPC Capital made this commitment with the Clinton Global Initiative Action Network and will depend on the engagement with CGI for partnerships to enable investments.