MPC Caribbean Clean Energy ltd is a Caribbean-based investment company set to be the next Initial Public offer in Jamaica and Trinidad simultaneously in early December.
The company is being sponsored by German based MPC Capital that is publicly listed since 2000 with a market capitalization of €158 million.
Trinidad regulators have already signed off on the prospectus while the draft prospectus is now going through the FSC in Jamaica, Martin Vogt, managing director of MPC capital advised IC insider.com.
The company was established in 2017 with the clear vision to invest in renewable energy projects in Jamaica, Trinidad and Tobago and the wider Caribbean region through the MPC Caribbean Clean Energy Fund LLC. The listed company will be just an investing vehicle, with capital raised to be invested through MPC Caribbean Clean Energy Fund LLC, the entity investing directly in the projects.
The company will seek to raise at least US$50 million in the Jamaican and Trinidad markets with the IPO expected to debut around the first week in December. Brokers for the issue are JN Fund Managers.
The Company is registered in Barbados and was established by the clean energy investment specialist MPC Renewable Energies (MPC), a 100% subsidiary of the publicly listed German asset and investment manager MPC Capital, based on its extensive renewable energy experience worldwide and after research and analysis of the Caribbean market.
JPS has signed an agreement to purchase power from the company at 8.5 US cents per KWH.
The initial investment in Jamaica is “Paradise Park”, a 50 MW solar park in Westmoreland with a capital outlay of US$64 million. Once completed by May 2019, the solar park will be the largest photovoltaic power plant in the island. Vogt told IC Insider.com that they have a 20 years power supply contract with JPS. The company also has a 21 MW wind power plant in Costa Rica that has been in operations since 2015 and is profitable. Importantly, the Jamaican operation which is now being built out will have a rated capacity of 50 MWH.
The plan is to raise around US$200 million for investment in the region’s renewables. According Vogt, the Jamaican government is expected to open the market in 2019 for bids for 150 MW renewable supply and the company is planning to bid for another 50 MW to add to the Paradise Park operation. If the bid is successful the expansion will result in some amount of economy of scale in the operation.
The is likely to invest in the Wigton Wind Farm when that company goes public in the first quarter of 2019.
The rate of return for the company is expected to be north of 9 percent per annum which will make it attractive for investors looking for income but payment of dividend may not be more than once per year initially.
The stock issue is likely to be a relatively high income generator, rather than one for rapid stock price gains. shares will be sold in Jamaica in local dollars but in Trinidad they will be in US dollars.
News reaching IC Insider.com is that Fantana Pharmacy should be heading to the market soon, to raise around $500 million to help fund the new location on Waterloo Road in Kingston. A few others are said to be planned for next year with IC insider.com gathering that at least two are in the manufacturing sector and one in the financial sector.
security traded.
exchanging 560 shares, Jetcon Corporation ended trading 12,500 stock units at $3.80, 
The Junior Market Index advanced by 34.58 points to close at 3,208.39 at the close on Friday as 23 securities traded versus 28 on Thursday with 6 stocks rising, 10 declining and 7 remaining unchanged. 
20 cents to $3.80, Key Insurance traded 200 units with a loss of 9 cents at $3.16. 
Investors brushed aside the less than spectacular results of a number of Junior Market companies and drove the majority of stocks higher at the close of trading on Thursday with 9 stocks rising, 6 declining and 13 remaining unchanged as 28 securities traded versus 25 on Wednesday.
trading 312,323 stock units, with a loss of 50 cents at $4, KLE Group finished trading of 104,000 shares, with a loss of 59 cents at $3.41, Knutsford Express closed at $12, exchanging 3,933 shares. Lasco Distributors ended at $4, swapping 104,153 shares, Lasco Financial concluded trading of 124,755 stock units to close 16 cents higher at $5.01, Lasco Manufacturing finished 2 cents higher at $3.20, with 173,000 units having been exchanged, Medical Disposables ended trading 592 shares, with a loss of 15 cents at $7.50, SSL Venture Capital traded 1,900 shares at $1.76 and Stationery and Office finished trading 301 stock units and rose 48 cents higher to $9.98. In the junior market preference segment, CAC2000 9.5% closed 16 cents higher at $1.16, with a mere 110 shares changing hands, Eppley 8.25% concluded trading of 100 units in gaining 29 cents to close at a 52 weeks’ high of at $6.35 and Eppley 9.5% finished at $6, with 31,473 shares changing hands.
Stocks mostly gained at the close of trading on the Junior Market on Wednesday with the market Index declining 32.11 points to close at 3,186.39 as 25 securities changed hands versus 20 on Tuesday.
Trading ended with an average of 120,706 units for an average of $397,421 in contrast to 50,185 units for an average of $188,760 on Tuesday. The average volume and value for the month to date amounts to 108,057 units valued at $537,578 and previously 106,499 units valued at $554,839. October, ended with an average of 69,421 units valued at $347,455 for each security traded.
with a loss of 49 cents at $4.50, Jamaican Teas settled at $3.90, with 261,000 shares changing hands. Jetcon Corporation ended trading with 33,200 stock units and jumped 65 cents to $4.50, KLE Group finished trading 88,888 shares, with a rise of 10 cents to $4, Knutsford Express closed at $12, with 200 shares trading, Lasco Distributors ended 10 cents higher at $4, with 101,180 shares changing hands. Lasco Financial concluded trading of 17,648 stock units with a loss of 34 cents at $4.85, Lasco Manufacturing finished 1 cent higher at $3.18, in exchanging 331,709 units, Main Event settled at $5.55, with 13,287 shares changing hands, Medical Disposables ended trading with a loss of 45 cents at $7.65, with an exchange of 500 shares, SSL Venture Capital traded 581,561 shares with a loss of 5 cents at $1.76 and tTech ended 50 cents higher at $6.50, with 21,895 shares changing hands.
Sterling garnered $74 million in foreign exchange gains for the nine months period compared to just $11 million for the similar period in 2017 and $35 million versus $9 million in the quarter. Some of that seems set to be reversed in the final quarter of the year as the Jamaican dollar has since revalued and is unlikely to be reversed before year end.
Stocks mostly gained at the close of trading on the Junior Market on Tuesday with the market Index declining 14.45 points to close at 3,218.50 as 25 securities changed hands versus 20 on Monday.
of 52,586 shares and gained 10 cents to close at $3.10, Jetcon Corporation ended trading with a loss of 7 cents at $3.85, with 70,501 stock units after trading as high as $4.50, Key Insurance traded 300,000 units at $3.25, 
The Junior Market followed up gain on Friday with another increase on Monday with the market Index advancing 17.44 points to close at 3,232.95.
previously 123,432 units valued at $565,096. October, ended with an average of 69,421 units valued at $347,455 for each security traded.
GWest Corporation closed 10 cents higher at $2, with 1,913 stock units changing hands, Honey Bun ended with a loss of 1 cent at $3.99, while exchanging 7,530 units, Jamaican Teas settled with a loss of 5 cents at $3.90, with 13,115 shares trading. Indies Pharma ended trading 130,739 shares and declined 10 cents to close at $3, Jetcon Corporation ended trading 17 cents higher at $3.92, with 246,091 stock units, Knutsford Express closed at $12, in trading 1,200 shares, Lasco Distributors ended with a loss of 5 cents at $4, with 189,595 shares changing hands, Lasco Financial concluded trading with a loss of 25 cents at $5, with 160,971 stock units. Lasco Manufacturing lost 1 cent to close at $3.17, with 312,100 units, Medical Disposables ended trading 10,000 shares with a loss of 30 cents at $8, SSL Venture Capital traded 10,000 shares at $1.81 and Stationery and Office finished trading 1,550 stock units at $9.20.