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MPG & Chinese State-Owned CNEEC Join Hands in Renewable Energy Venture

The Mahanakorn Partners Group (MPG) have taken another step forward in consolidating their operations in the Commonwealth of Independent States (CIS), having reached an agreement with China National Electric Engineering Corporation (CNEEC). CNEEC is one of China’s most prominent and globally recognized state-owned enterprises, specializing in renewable and conventional energy generation systems, in which it has an outstanding track record as an Engineering, Procurement & Construction (EPC) Contractor, and as an Operations & Maintenance (O&M) Independent Service Provider (ISP).

MPG and CNEEC have collaborated closely over the past few months to determine scope of work and mutual responsibilities for several renewable energy projects in the CIS, which will dramatically increase the power generation for the region. Offtake agreements were signed with the Ministry of Energy and MPG undertook the legal and financial structuring for the debt issuance programs and credit facilities in excess of half a billion U.S. dollars. As CNEEC had confirmed intent, the negotiations centered around the firm’s capacity to undertake both shovel-ready and future projects as the EPC Contractor.

MPG Bangkok Headquarters, 10 October 2018. CNEEC’s General Manager Mr. Pei Wen (left) and MPG’s Managing Partner Mr. Luca Bernardinetti (right), signing the Transaction Advisory Services agreement for a half billion-dollar solar energy project portfolio.

 

On November 2nd, 2018, an MPG delegation made a courtesy call on CNEEC’s Beijing headquarters during which deliverables and a timeline for the extensive array of PPP projects that the two companies are working together on were further outlined. Both firms are confident that the Bangkok Agreement sets an important milestone for a long-term, successful partnership for years to come.

With this agreement now reached, MPG and CNEEC look forward to future collaboration as each expands its international footprint and global reach.

CNEEC Beijing Headquarters, 2 November 2018. MPG’s Managing Partner Mr. Luca Bernardinetti (left) and CNEEC’s Vice President Mr. Yuan Bo (right) discussing the roadmap for the construction of a large portfolio of renewable energy power plants.