MPC Energy Solutions (MPCES) has acquired a 3.4-megawatt combined heat and power (CHP) plant in Puerto Rico for $9 million, following completion of the construction phase.
The plant is majority owned by MPC Energy Solutions and is now operating with a long-term power-purchase agreement (PPA) in place with pharmaceutical company Neolpharma Inc. The Neol CHP plant is expected to produce 26,000 megawatt-hours of energy per year and help Neolpharma avoid 100,000 tons of carbon dioxide emissions over the lifespan of the PPA.
“The commissioning of Neol CHP is another important step in terms of executing on our project pipeline and a demonstration of MPC Energy Solution's commitment to Puerto Rico,” said Martin Vogt, CEO at MPC Energy Solutions. “The territory has an ambitious target to transition to 100 percent renewable energy by 2050. Projects such as the Neol CHP power plant are a part of that transition.”
The project was developed and constructed by Enerne