- Final permit secured, allowing start of testing and commissioning
- Testing phase planned to last around two weeks
- Official COD expected in July
- Additional capital contribution required to meet commitments until COD, but largely to be recovered at sale of the project
- Transaction economics remain in line with prior guidance
MPC Energy Solutions has announced that its 66.1 MWp San Patricio solar photovoltaic (PV) plant in Guatemala has secured its final permit and has entered the testing and commissioning phase. The testing will start in the coming days and is then expected to take approximately two weeks. Following successful completion of the testing phase, the plant is anticipated to receive its Commercial Operation Date (COD) certificate during the month of July. Consequently, MPCES revised its timeline for starting operations from the originally guided second quarter of 2026 into the third quarter of 2026.
MPCES will be able to sell the energy generated during the testing phase and period until official COD through the spot market. Reaching COD will mark a key milestone for the San Patricio project and also represents a critical step toward the closing of the planned sale of the asset.
As a result of the delay into the third quarter, additional debt service payments, on-site staff commitments and operational expenses will have to be met, and the Company made an additional capital contribution of USD 1.5 million to cover the final stage of the project until COD. MPCES expects that nearly the entire amount of this additional funding will be recovered through proceeds from the agreed sale of the plant from contractually agreed closing adjustments to the purchase price.
Source: MPC Energy Solutions
