MPC Capital and Martifer Renewables are to form a strategic partnership to develop renewable energy projects in Colombia.
The two companies say that there are “highly attractive, niche investment opportunities” in the South American market that will allow them to expand their regional development efforts. Their new joint venture will focus on distributed generation and utility-scale solar PV and wind projects in the country.
Both MPC, an international asset investment manager, and Martifer will dedicate staff and resources to a new base in Bogota, Colombia. Martifer will be the lead developer, and provide operations and maintenance, while MPC Capital will focus on financial analysis, debt financing and asset management services.
“We are very pleased to partner up with MPC Capital in Colombia. This partnership brings more robustness to our strategy, focusing in setting partnerships, developing, constructing and operating renewable energies projects, thus adding value to our Shareholders.” said Miguel Lobo, Martifer Renewables Board Member.
Lobo added: “Colombia is one of the most promising markets in renewables energies in Latam. We expect to be a relevant player in Colombia participating in solar distributed generation projects and both solar and wind utility-scale projects.”
According to MPC, the demand for renewables in Colombia is rising alongside electricity demand.