Solamon set to electrify Mali; assistance of AfDB and World Bank sought

Top Quote Solamon set to expand operations in Africa. End Quote
  • (1888PressRelease) July 10, 2014 - Solamon Energy Corp (GXG:SSL) is proud to announce its intention to assist the Malian government in its on-going efforts to provide power to the people and especially electrify its rural areas of the land-locked West African country by implementing renewable energy solutions.

    Solamon offers a wide range of solar and integrated systems, large and small, and has for example partnered with several companies who provide solar kits in a box, suitable for a clinic in any sunny remote area today.

    Mali's stated short-term objectives, given its energy demand is growing 10% annually, include addressing the institutional, financial, capacity, and knowledge barriers to the development of low carbon-energy pathways. Despite significant progress over the past decade, access to electricity remains a "severe development challenge" in Mali. According to the UN, inadequate access to clean and affordable energy limits social opportunities for the poor, women, and the youth in particular, and is a key factor in Mali's most pressing challenges.

    "We are happy to help," says Solamon CEO Graeme Boyce, "and look forward to further positive announcements in this regard."

    To achieve these goals, given the myriad problems in the region, Mali is accessing $40 million in credit financing from the Scaling-Up Renewable Energy in Low Income Countries Program (SREP) for a set of transformative investments intended to create an enabling environment for the large scale development of Mali's renewable energy sector.

    Activities financed under Mali's SREP investment plan include three distinct portfolios of micro and mini hydroelectric, photovoltaic, and hybrid rural electrification projects. Mali's SREP investment plan was drafted under the leadership of the government in coordination with the African Development Bank (AfDB), members of the World Bank Group (IBRD, IFC), other development partners, and key Malian stakeholders.

    Solamon Energy Corp, a BVI company, typically offers a ground-mounted solar array of integrated cells over a package of land called the Apollo Acre™. The company also develops custom solutions with local partners to provide roof-mounted and parking lot systems that are easily augmented by micro wind turbine technology and other innovative features to supply renewable energy locally.

    About Solamon:
    Solamon Energy Corp. sells integrated arrays of ground-mounted and rooftop photovoltaic cells. These solar power plants are connected by cable to varied transmission equipment, including converters, inverters and batteries, utilizing 5 acres of land per unit; each unit is called an Apollo Acre™. Additionally, it is expected the company's business activities will spin-off many jobs locally, given engineering requirements, construction, unit commissioning and subsequent maintenance.

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