Looking to boost its renewable energy practice, Hamburg-based MPC Capital has launched a subsidiary in Panama to focus on renewable energy projects throughout the Caribbean Basin.
MPC Renewables Panama will be headquartered in Panama City, with Fernando Zúñiga leading the office and serving as regional director for Central America.
“Central America and the Caribbean is a key region for the growth of our renewable energy business,” said Roman Rocke, an MPC Capital board member, adding that the office opening “is a strategically important step in serving our investors and business partners and in our international growth”.
Zúñiga comes from Solarcentury, where he led development in Latin America from the firm’s Panama office. He previously worked for Panama-based Grupo ECOS and Hamburg-based Suntrace.
In December, MPC announced the launch of an investment platform for Caribbean renewables projects. At the time, the firm acquired a stake in the 50MW Paradise Park solar plant in Jamaica, investing around $60 million. MPC has also invested in the 172 MW Ancora wind park project in Portugal and the 54 MW Sainshand onshore wind park in Mongolia.
Launched in 1994, MPC Capital’s focus includes real estate, shipping and infrastructure. The firm holds €5.1 billion in assets under management.