Funds managed by RBC Trust commit to MPC Capital’s Caribbean renewables platform
RBC Trust (Trinidad and Tobago) Limited, a subsidiary of RBC Financial Caribbean Limited, has committed USD10 million to MPC Capital's Caribbean listed feeder-vehicle to further grow the portfolio of renewable energy assets.
RBC Trust made this investment on behalf of its managed clients’ accounts. The feeder-vehicle was established to enable local investors such as pension funds, insurance companies, or credit unions to participate and benefit from the energy transition in the region and has collected more than USD 30 million from regional institutional investors since 2019. The commitment is subject to pending approval of the Trinidad and Tobago Securities and Exchange Commission.
The investment demonstrates the trust and appetite of the local institutional investor community for the renewable energy sector as well as commitment to aid the energy transition towards renewable energies in the Caribbean region. It is also in line with MPC Capital’s global strategy and commitment to accelerate clean economic growth, support low-carbon transition and positive community and social impact.
Martin Vogt, Managing Director Renewable Energies at MPC Capital, says: “We are honoured to have RBC Trust as a partner and financier of our renewable energy business. The conditions for the use of solar and wind power in the region are excellent. With the impact of COVID-19 on the region and the growing demand for low-carbon power supply, we are determined to invest in the transition to clean energy infrastructure in the Caribbean to make it more resilient and independent. The private sector plays a crucial role in mobilising capital for investment and job creation, and we want our activities to help promote green recovery.”