MPC Capital-led group completes purchase of Costa Rica wind farm

MPC Capital has reached financial close for the acquisition of the 21 MW wind farm Tilawind for approximately US$50 million. Investors include MPC Caribbean Clean Energy Fund, MPC Capital’s investment platform for renewable energies in the CARICOM region, and ANSA McAL Limited, Trinidad and Tobago’s largest conglomerate.

In 2018, Tilawind exceeded forecasted expectations, in terms of energy production and revenues. The wind farm, which is located in Tilarán, in the northern province of Costa Rica, Guanacaste, is operational since 2015 and has the potential for future expansion of its peak capacity.

Tilawind is the second acquisition of the Fund, which has already invested in the 51 MWp solar PV park Paradise Park in Jamaica. MPC Renewable Energies, a wholly-owned subsidiary of MPC Capital and the investment advisor to the Fund, originated and structured the transaction and is now responsible for the technical, commercial and administrative management of the wind farm.

The acquisition was signed already in June 2018 with an economic transfer date as of January 2018. All customary approvals were granted in April 2019 enabling the closing of the acquisition.