The ANSA McAL Group of Companies has completed the acquisition of the Monte Plata Solar Farm in the Dominican Republic.
Speaking at the conglomerate’s annual general meeting yesterday, ANSA McAL’s Group’s Chief Executive Officer Anthony N Sabga III said the investment is in line with the group’s modern energy agenda.
The solar park currently has an operational capacity of 33.4 megawatt peak.
Sabga said the second phase of the Monte Plata Park is imminent.
Phase two will expand the park to 75.6 megawatt peak of installed photovoltaic capacity.
Over the course of its operational lifespan the expanded solar park will help avoid the production of nearly two million tonnes of carbon dioxide.
This acquisition comes on the heels of the ANSA McAL group’s 2018 investment in an operational wind farm in Costa Rica.
But what about right here in T&T?
“We continue to work with our technological and investment consortium partners and continue to look at and court a very interesting pipeline of renewable projects. Renewables are something that are on the agenda of the Ministry of Energy and Energy Industries and the government of Trinidad and Tobago and we are aligned with seeking to support that agenda as and where opportunities exist,” Sabga said.
In addition to this renewable energy thrust, Sabga said ANSA McAL is also rebranding its plastic and glass recycling under the umbrella of ANSA packaging.
On the issue of cybersecurity, Sabga said after having previously being affected by a ransomware attack the group intends to do all in its power to ensure something like that never happens again.
“Cybersecurity is the buzz word of the day and it is an area we don’t play with, we have upped significantly our cybersecurity training, relooking at all of the backup systems, we have engaged with third parties for reviews and are also incorporating a state of the art cybersecurity offering and are at a very advanced stage,” he said.
One of the highlights of yesterday’s AGM was when Dr Tonya Villafana was appointed to the ANSA McAL board of directors of for the term of one year.
T&T born Villafana is the vice president, global franchise head of infection vaccines and immune therapies at Astrazeneca.
“Dr Villafana welcome to our board and we look forward to your contributions,” the group’s executive chairman A Norman Sabga stated.
Also reappointed to the board for a two-year period were Andrew N Sabga, Anthony N Sabga III, Teresa White, Mark J Morgan, Krysta Behrens De Lima, Norman Christie and Vicki-Ann Assevero.
For the financial year ended December 31, 2021 ANSA McAL reported a $50 million increase in revenue to $5.97 billion.
The Group’s reported profit before tax was $935 million.