Wed | Sep 18, 2019

MOU signed to improve energy efficiency at Mico

Published:Wednesday | September 11, 2019 | 12:24 AM

HAMBURG, Germany:

MPC Capital and the Mico Foundation have signed a memorandum of understanding (MOU) to install a rooftop solar PV facility with a peak capacity of two megawatts at The Mico University College. Power generation is expected to start in the second quarter of 2020.

The energy-efficiency measures will reduce the college’s energy costs and cut its greenhouse gas emissions. The MOU formalises the cooperation between MPC Capital and the Mico Foundation.

MPC Capital will finance and operate the rooftop PV facility and intends to add this investment to the portfolio of the MPC Caribbean Clean Energy Fund. It will be the first energy-efficiency project of the fund. The Mico Foundation will purchase the energy generated by the facility and, in collaboration with The Mico University College, also intends to explore other development opportunities with MPC Capital.

Long-term partnerships

David Delaire, managing director at MPC Renewable Energies, said: “The collaboration with the Mico Foundation, a well-known institution with a time-honoured tradition in Jamaica, is in line with our strategy of long-term partnerships. By pursuing this project, The Mico University College and the Mico Foundation have shown us that they are conscious of their energy consumption and willing to optimise it.”

He added: “In general, the energy regulations and economic policies in Jamaica provide a conducive environment for investors, such as MPC Capital and the MPC Caribbean Clean Energy Fund. That’s why the country is one of our core markets in the Caribbean region.”