MPC Caribbean Clean Energy Limited (MPCCEL) has identified Potenza Holdings, SA de CV as the buyer of its San Isidro solar investment in El Salvador, a month after shareholders approved the US$3.27-million disposal as part of the company’s wider move to cash out its renewable-energy portfolio.

In a notice to the Jamaica Stock Exchange on Thursday, MPCCEL said a sale and purchase agreement was signed on September 11 between Potenza Holdings and the entities through which it owns its interest in San Isidro Fotovoltaica, SA de CV.

The transaction remains subject to customary closing conditions and is expected to be completed by the end of the first quarter of 2027.

The latest disclosure advances a transaction that shareholders approved at MPCCEL’s annual general meeting in August, when the company revealed that it had accepted a US$3.27-million offer for the solar farm but did not identify the prospective buyer.

At the time, MPCCEL said more than 20 potential buyers had been approached as it tested interest across its portfolio before ultimately receiving a binding offer for San Isidro.

Potenza Holdings is no newcomer to renewable energy in El Salvador. The company forms part of Grupo Borja, a regional business group with operations across Central America and the Dominican Republic, and focuses on the development and operation of power plants, particularly solar projects.

Potenza already has an established footprint in El Salvador’s solar market. Regulatory filings show the company entered into a 20-year agreement covering energy from a 5 MW solar plant beginning in 2020, while it has also been involved in larger projects, including the La Independencia and La Libertad solar developments.

San Isidro is a 6.4-megawatt peak solar facility in El Salvador, although MPCCEL’s latest material change notice describes the plant on an alternating-current basis as 5 MWac. The company said it acquired its indirect shareholding in the project in December 2020, with the solar plant reaching commercial operation in early 2021.

Earlier Business Observer reporting showed that approximately US$7.8 million was invested in the project. The acquisition was completed as MPCCEL expanded its renewable-energy portfolio across the Caribbean and Central America, with San Isidro joining solar and wind investments in Jamaica, Costa Rica, and the Dominican Republic.

The company has since moved in the opposite direction.

MPCCEL has said it is now in the portfolio realisation phase of its investment strategy, focusing on monetising its existing assets and returning capital to shareholders rather than pursuing new acquisitions.

That process began in earnest with the sale of its interest in the Paradise Park solar project in Westmoreland in April 2025 for US$5.87 million. San Isidro would become the second major disposal once the transaction with Potenza is completed.

The sale comes even as San Isidro continues to perform strongly. MPCCEL reported in its June-quarter financials that the project exceeded both generation and revenue targets by 2.3 per cent during the period, while earnings before interest, tax, depreciation, and amortisation were 49 per cent above plan, helped by lower-than-forecast operating expenses and other income.

Once San Isidro is sold, MPCCEL’s remaining renewable-energy interests will centre on the Tilawind wind farm in Costa Rica and the Monte Plata solar project in the Dominican Republic.

Chairman Fernando Zúñiga told shareholders in August that the company intends to monetise those investments as well. He said MPCCEL was established on the basis that renewable-energy assets would generally be held for roughly six to eight years before being realised.

The company’s immediate focus, however, is expected to remain on completing the San Isidro transaction and determining how much of the cash generated from its asset sales can be returned to Class B shareholders.

MPCCEL had previously planned to make a distribution from the Paradise Park proceeds, but later opted to consider those funds alongside the expected proceeds from San Isidro. Head of asset management for renewable energy Juste Kubiliute told shareholders in August that the intention to make a distribution remained, while leaving open the possibility of an interim payment if the San Isidro closing took longer than anticipated.

The latest timetable means the transaction could remain outstanding into early 2027.

MPCCEL’s June-quarter report said the company would continue concentrating on maximising value from the portfolio, maintaining sufficient liquidity and returning capital to shareholders as assets are realised.