Puerto Rico Opportunity Zone Fund, LP Makes Inaugural Investment in MSI Solar Corp.
The first private equity firm focused on ESG investing in Opportunity Zones throughout Puerto Rico invests in a renewable energy company to help the Energy Transition in Puerto Rico
Monllor Capital Partners LLC (MCP), announced that the Puerto Rico Opportunity Zone Fund, LP (PROZ), the first private equity firm focused on ESG investing in Opportunity Zones throughout Puerto Rico, closed its inaugural investment in MSI Solar Corp. (MSI), a renewable energy company at the forefront of the Energy Transition in Puerto Rico.
MSI, doing business as SunBeat Energy, designs, develops, and sells renewable energy storage products including Li-Ion batteries, smart inverters, and all-in-one energy storage systems, for residential, commercial, and industrial applications. SunBeat Energy was founded by industry veteran Maximo Torres.
Managing Partner Jose A. Torres and his team at Monllor Capital Partners LLC felt compelled to invest in SunBeat Energy because of the management team, the leading-edge products, and the potential impact they could have in the Energy Transition of Puerto Rico. Puerto Rico currently generates less than 3% of its energy from renewables, a far cry from the 100% target by 2050.
“Máximo Torres and SunBeat Energy are the reason why we launched PROZ. The potential environmental, social, and economic benefits to the community are significant and needed immediately to meets Puerto Rico’s public policy that requires 100% renewable energy by 2050,” said Jose Torres, whose fund has an initial target of $20 million to invest in qualified opportunity zone businesses throughout Puerto Rico.
“With our rapid growth and the opening of distribution centers in Mexico, Panama, Colombia, Miami, and Puerto Rico, the new capital invested will boost our recent expansion and will allow us to continue guaranteeing the availability of units for our installers network. said Maximo Torres, founder and President of SunBeat Energy.