MP2 announced a unique financing partnership with Moncada Energy Group, an Italian vertically integrated company that develops, designs, builds, operates and owns renewable energy plants. Construction on the partnership's first phase of projects, totaling 15 MW, is set to begin by the end of 2010.
SAN FRANCISCO - OCTOBER 12, 2010 - MP2 Capital, a developer, financier and operator of solar projects throughout North America, announced today that it has formed a partnership with Moncada Energy Group, one of the leading private producers of renewable energy in Europe, to collectively build, own and operate a series of solar projects in the United States. Construction on the first phase of projects, which will total approximately 15 MW, will begin before the end of 2010.
The partnership enables the parties to combine their knowledge, expertise and relationships to rapidly advance solar development throughout the United States. Since the firm's inception in 2006, MP2 Capital has established itself as a leader in the development, financing and operation of solar projects with commercial, government and utility off-takers. Founded in 1991 and based in Aragona, Italy, Moncada Energy Group is a vertically integrated company that develops, designs, builds, operates and owns renewable energy plants.
"We are excited to partner with a group as experienced and successful as Moncada," said Mark Lerdal, CEO of MP2 Capital, LLC. "The partnership allows us to execute on an existing backlog of project opportunities and makes possible future projects that will further the use of clean electricity throughout the United States."
"MP2 is a proven leader in solar project finance, with an established record of developing, financing and operating energy projects throughout North America," said Salvatore Moncada, CEO of Moncada Energy Group. "Partnering with MP2 provides Moncada the ideal partner to leverage its technical expertise, project management experience and balance sheet to further our aggressive goals in the U.S. market."
About MP2 Capital
Founded in 2006, MP2 Capital develops, finances and operates solar projects throughout North America - selling the electricity produced to commercial, government, and utility customers under Power Purchase Agreements and Feed-in Tariffs. The firm is based in San Francisco, California. www.mp2capital.com
About Moncada Energy Group
Moncada Energy Group, one of the leading private producers of renewable energy in Europe, is a vertically integrated company that develops, designs, builds, operates and owns wind, solar, geothermal and biomass assets. Moncada Energy USA is the company's newest division and represents the company's commitment to invest substantial resources to expand its presence in the U.S. market. www.moncadaenergy.com
For further information please contact:
Jeff Glavan, Managing Director
MP2 Capital, LLC
Alison Biondi, Operations Manager
MONCADA ENERGY USA
101 California Street, Suite 3150
San Francisco, CA 94111
Borders + Gratehouse
415-963-4174 ext 1
Emily (at) bordersgratehouse.com