MPC Energy Solutions completes USD 28.3 million divestment of solar PV plants in El Salvador and Guatemala

MPC Energy Solutions NV has completed the sale of two solar PV plants in El Salvador and Guatemala, bringing in total divestment proceeds of USD 28.3 million. The transaction, internally referred to as Project Merlin, was first signed in November 2025 and received shareholder approval in December 2025.

The deal’s closing followed the successful start of operations at the Guatemalan plant in mid-July, along with the fulfillment of other pre-closing conditions.

The transaction closes after shareholder approval and plant commissioning

MPC Energy Solutions NV officially wrapped up the sale of Project Merlin—its combined solar PV portfolio in El Salvador and Guatemala. Getting there took several months.

What happens with the proceeds, whether redeployed into new projects or used for other corporate purposes, wasn’t detailed in the company’s announcement.

The sale agreement was signed back in November 2025. Shareholders formally approved it in December 2025, clearing one of the bigger hurdles on the path to closing. That approval alone wasn’t enough, though — the final close depended on additional conditions being met, including the Guatemalan plant actually starting operations. That happened in mid-July, and the deal moved forward from there.

With all pre-closing requirements satisfied, MPCES confirmed that total divestment proceeds—including preliminary closing adjustments—come to USD 28.3 million.

Pre-closing conditions and escrow arrangement

Not all of that USD 28.3 million lands in MPCES’s hands right away. The deal includes an escrow arrangement tied to post-closing obligations.

Specifically, USD 2.2 million has been set aside in escrow, linked to post-closing milestones and the finalization of transaction closing accounts. Standard mechanics in deals like this are designed to protect both sides after the handover. MPCES could collect that escrowed amount later in 2026, provided the remaining conditions are satisfied. It’s not gone; it’s just not accessible yet.

The requirement to get the Guatemala plant running before closing was itself a meaningful condition. It meant the deal couldn’t wrap until the asset was fully operational, giving the buyer confidence they were acquiring a working facility rather than a construction site.

Financial impact of the divestment on MPCES

Subtract the escrowed USD 2.2 million, and net proceeds immediately available to MPCES come to roughly USD 26.1 million—the liquidity the company can actually put to work in the near term.

The divestment is a complete exit. MPCES no longer holds an ownership stake in either plant. For a renewable energy developer operating across Latin America and the Caribbean, walking away from two markets at once is a notable portfolio move — one that signals an active approach to managing its asset base, knowing when to hold and when to sell. What happens with the proceeds, whether redeployed into new projects or used for other corporate purposes, wasn’t detailed in the company’s announcement.

Background: MPC Energy Solutions and its central American portfolio

MPC Energy Solutions NV is a renewable energy developer focused on projects across Latin America and the Caribbean, with a strategy centered on developing, financing, and operating clean energy assets in emerging markets throughout the region.

The two plants sold under Project Merlin were solar photovoltaic assets — utility-scale facilities that convert sunlight directly into grid electricity. Solar PV has attracted growing investment across Central America in recent years, driven by falling technology costs and rising regional demand for cleaner power. Project Merlin was the internal name MPCES used for the combined El Salvador and Guatemala portfolio; assigning a code name during development is common in M&A, keeping communications clean before anything goes public.

The timeline reflects how complex cross-border energy asset sales can get. From the initial signing in November 2025, the process moved through shareholder ratification, regulatory and contractual conditions, and finally the operational commissioning of the Guatemalan plant—each step had to happen before the next one could.

That kind of sequenced closing is typical when assets are still under development at the time a deal is struck. The buyer wants proof the plants work, and the seller has to demonstrate that before the full payment changes hands.

USD 2.2 million is held in escrow

The short version: MPC Energy Solutions NV has completed the sale of two solar PV plants in El Salvador and Guatemala — collectively known as Project Merlin — for total proceeds of USD 28.3 million.

Signed in November 2025 and approved by shareholders in December 2025, the deal closed after the Guatemala plant began operations in mid-July. Of the total proceeds, USD 2.2 million is held in escrow pending post-closing milestones, leaving approximately USD 26.1 million in net immediately accessible funds for MPCES.

This is a full exit from MPCES’s solar holdings in both countries. The escrowed portion could be released later in 2026 — if the remaining conditions are met.

Kelly Lippke

Kelly is an experienced writer with 15 years of experience exploring the big stories that shape our world, from tech breakthroughs and space exploration to climate, energy, and the fascinating quirks of science. She has a talent for turning complex ideas into sharp, memorable insights that stay with readers long after they’ve finished reading.