MPC Capital signs MOU with University of the Commonwealth Caribbean (UCC)

MPC Capital partners with University of the Commonwealth Caribbean (UCC) for energy efficiency

HAMBURG, Germany – November 20, 2019 – MPC Capital and the University of the Commonwealth Caribbean (UCC) recently signed a Memorandum of Understanding (MOU) to install a rooftop solar Photovoltaic (PV) facility with a peak capacity of 2 megawatts at the University of the Commonwealth Caribbean’s main campus in Kingston. Power generation is expected to start in the fourth quarter of 2020.

The energy efficiency measures will reduce the energy costs of UCC, cut its greenhouse gas emissions and increase its energy independence. The MOU formalises the cooperation between MPC Capital and the UCC.

Under the MOU, MPC Capital will finance and operate the rooftop PV facility while UCC will purchase the energy generated by the facility.

MPC Capital will add this investment to the portfolio of the MPC Caribbean Clean Energy Fund, making it the first energy efficiency project of the Fund.  

David Delaire, Managing Director at MPC Renewable Energies, said: “The collaboration with the University of the Commonwealth Caribbean, a well-known private higher education institution which caters to professionals that are looking to improve their careers by pursuing advanced and higher education gives us the opportunity  to continue investing in Jamaica’s energy transition. UCC is conscientious of  its energy consumption and in embarking on this project to control it and reduce its carbon emissions at the same time. “

“Jamaica continues to lead the English-speaking Caribbean with its progress  energy regulations and economic policies,making it more attractive to MPC Capital and the MPC Caribbean Clean Energy Fund,” Mr Delaire added. “That’s why we continue to grow our  local activities and attract local investors to partner with us in our investment vehicles for the region.”

For his part, Dr. Winston Adams, UCC Group Executive Chairman, welcomed the partnership between UCC and MPC Capital.

“We are happy to be forging this partnership with MPC and pledge our commitment towards this project on renewable energy. Not only does it provides an opportunity for the institution to maximise its use of technology and innovation to reduce energy costs, but it allows us to play our part in preserving the earth’s resources,” said Dr. Adams.

Both MPC Capital and the University of the Commonwealth Caribbean agreed to jointly evaluate possibilities of cooperation with the utility provider Jamaica Public Service Company (JPS).