Amsterdam/Oslo - 26 October 2023 - MPC Energy Solutions (MPCES, Company)
announced its Q3 2023 results today. MPCES generated 74.5 GWh of electricity
from its power-generating projects in the first nine months of 2023 (compared to
22.3 GWh in 2022), corresponding to USD 6.3 million in revenues and USD 3.6
million in project EBITDA. The total revenue and project EBITDA, including the
Company's trading activities in Colombia, were USD 6.9 million and USD 3.1
million, respectively, compared to USD 2.5 million revenue and USD 1.6 million
project EBITDA for the same period in 2022.

Simultaneously, the company is shifting its focus towards higher-yielding
developing projects in Central America. "We have taken steps to significantly
shore up our cash reserves and balance project cash flows with overall spending.
Paired with a clear focus on selected development activities, we will be in a
position to become a profitable, self-sustainable business that does not solely
rely on external funding sources for growth", commented Stefan H.A. Meichsner,
CFO of MPC Energy Solutions.

MPC Energy Solutions is a global provider of sustainable energy and primarily
focuses on low-carbon energy infrastructure, including solar and wind farms, and
other hybrid and energy efficiency solutions in Latin America and the Caribbean.

In the third quarter of this year, MPCES generated 34.1 GWh of energy output
(2022: 7.6 GWh), corresponding to USD 2.8 million in revenues (2022: USD 1.0
million) and USD 1.3 million in project EBITDA (2022: USD 0.5 million). It was
the Company's best quarterly performance in its history.

On a consolidated year-to-date basis, MPCES reported negative EBITDA and EBIT of
USD 1.1 million and USD 4.0 million, respectively, and a net loss year-to-date
of USD 4.8 million. MPCES ended the third quarter 2023 with total assets of USD
129.3 million, of which USD 13.1 million were cash and cash equivalents. The
consolidated equity ratio of the group as of 30 September 2023 was 57%.

The Company also updated the market on continued delays to complete the grid
connection for its 50:50 joint venture Planeta Rica in Colombia, which in turn
affects MPCES' year-end outlook. The Company now projects to record USD 9 to 9.5
million in revenues and USD 5 to 5.5 million in project EBITDA from its assets
in 2023, also factoring in the trading losses from its Colombian project Los
Girasoles and the weaker than expected performance of combined-heat-and-power
(CHP) Neol CHP in the third quarter.

"We have seen very good contributions from our PV project in El Salvador and our
solar PV plant in Mexico. But 2023 is negatively affected by trading losses in
Colombia - which are now contained -, the delayed connection of Planeta Rica and
an underwhelming quarter from our CHP project", added Meichsner.

MPCES is taking steps to reduce overall spending to align overhead and
development costs with its expected cash flows from projects. Subsequently, the
Company will put a greater focus on its developing activities in Central
America, while targeting (partial) farmdowns of its projects in Colombia and the
Caribbean. As a first step, the Company announced in early October that it
exited one of its CHP projects in Puerto Rico.

"We will, over the next months, conclude the investment decision for our
projects in Guatemala and Jamaica. Being greenfield projects developed by us, we
can significantly enhance our returns by joining forces with co-investors pre
-construction. This allows us to secure development fees while simultaneously
reducing our capital requirements to expand our portfolio. Ultimately, this is
how we create the greatest value for our shareholders", said Meichsner.

The Company will host an investor webcast today at 09:00 a.m. CET. There will be
a Q&A session after the presentation, and a recording and written transcript of
the webcast will be published on the Company's website afterwards.

From 09:00 a.m. CET on 26 October 2023, the presentation to be reviewed during
the webcast will be available on our website:

https://www.mpc-energysolutions.com/investors/reports-presentations

Q3 2023 webcast information:

Date:                  26 October 2023

Time:                  09:00 a.m. CET

Duration:           30 minutes incl. Q&A

Sign up and access the webcast here:  https://hca.videosync.fi/2023-10-26
-mpc/register

For further information, please contact ir@mpc-energysolutions.com.

- ENDS -

About MPC Energy Solutions
MPC Energy Solutions ("MPCES") is a global provider of sustainable energy and
primarily focuses on low-carbon energy infrastructure, including solar and wind
farms, and other hybrid and energy efficiency solutions. The Company
participates in the full project lifecycle of renewable solutions, from early
-stage development through construction and operation. More details at www.mpc
-energysolutions.com

Media contacts
MPC Energy Solutions N.V.

Investor Relations & Public Relations
Email: ir@mpc-energysolutions.com

Norway

Mats Samdahl Weltz
Salto Advisers AS
Phone: +47 950 46 330
Email: msw@saltoadvisers.no