News & information

• Power generation of 40.4 GWh, revenue of USD 3.5 million, and EBITDA of USD 2.3 million in the first half of the year
• MPC Energy Solutions focuses on sustainable energy infrastructure in Latin America and the Caribbean
• Start of development projects in Panama and El Salvador
• CFO Stefan H.A. Meichsner takes over CEO position

Amsterdam/Oslo - 31 July 2023 - MPC Energy Solutions (MPCES) presents impressive results for the first half of 2023. The company generated 40.4 GWh of electricity, resulting in revenues of USD 3.5 million and EBITDA of USD 2.3 million. Total revenue, including trading activities in Colombia, was USD 4.1 million and EBITDA was USD 1.8 million.

MPC Energy Solutions, a global sustainable energy provider, focuses on low-carbon energy infrastructure and renewable energy in Latin America and the Caribbean.

Despite a consolidated negative EBITDA and EBIT of USD 0.9 million and USD 2.7 million respectively, and a net loss of USD 2.6 million, MPCES shows a strong balance sheet with USD 15.4 million in cash and cash equivalents. The equity ratio is 58% as at 30 June 2023.

Stefan H.A. Meichsner, CFO of MPC Energy Solutions, said: "With our solid results in the first half of 2023 and a promising project in Colombia on the way, we are well positioned to achieve our annual target of $10 million in revenue and $7 million in EBITDA from power-producing assets at the project level."

MPCES also launched new development activities in Panama and El Salvador in the second quarter to further drive growth.

Following the resignation of CEO Martin Vogt, CFO Stefan H.A. Meichsner took over and the Supervisory Board initiated a succession process for the position of CEO.