Solamon Solamon set to solarize Panama; Keegan expects initial meetings to prove fruitful

Top Quote Solamon set to solarize Panama; Keegan expects initial meetings to prove fruitful. End Quote
  • (1888PressRelease) January 10, 2012 - Toronto - Solamon Energy Corp. is proud to announce its expansion into Panama, now recognized as one of the fastest growing economies in Central America today. Through his office in Nicaragua, Solamon SVP Corey Keegan has coordinated the company's inaugural visit to Panama City and is looking forward to meetings next week with some of the country's senior-most business leaders. "We intend to explain our business model and go from there." explains Keegan. "We know there are some competitors running small solar businesses in Panama and we hope they will understand our position to simply assist Panamanians - from manufacturers to institutions, home owners to hospitals."

    According to a recent EnerData report, Panama intends to develop 16 new hydropower projects to meet domestic electricity consumption. It is recommended these projects should be built by private companies by 2015 to add a combined capacity of 700 MW to the power grid. According to the National Authority of Public Services (ASEP), the country's electricity demand is expected to increase by 7% by 2012. Whereas Panama's capacity is increasing, Latin America's total energy production slightly fell by around 2% this year.

    According to CEO Graeme Boyce, since launching earlier in the year Solamon has enjoyed phenomenal success across the Caribbean. The company attended the prestigious CREF event in Barbados in the fall, and publicly laid out plans to empower local communities with their own turnkey solar electricity systems, as well as provide large commercial arrays to industrial consumers. Further, the company announced its ability to supply modular mobile solar plants to disaster areas and efficiently design unique systems across parking lots.

    "As we have seen in Nicaragua and Jamaica," Keegan continues, "large power users get excited when informed the sun can fuel their own nearby generating system, which we can build and they can manage. They understand the sun as a fuel eliminates the need for their utility to import oil and gas. I hate to admit it, but the early bird gets the worm. When it comes down to brass tacks, yes, we can finance each array and we'll own each array, but we are dealing with people who already know the potential of each Apollo Acre™ and who can bring to bear the requisite resources to ensure our success. Given these conditions, I'm certain these upcoming meetings will prove very fruitful."

    As stated last month, Solamon is excited to deliver turnkey power plants using the sun as a resource into Caribbean and Central American countries, and to develop mutually beneficial and long-term relationships. "Our executives are actively looking for partners to manage the Apollo Acre™ locally," Boyce continues. "Our partners must be willing to establish and operate a post-implementation training program, especially in collaboration with government agencies who have offered to provide standards and certification criteria."

    Solamon provides a fully managed solution for its Apollo Acre™, a turnkey process from beginning to end including site inspections, project design and development, as well as addressing requisite environmental and local permitting, 3rd party engineering, procurement and construction, as well as system testing and eventual commissioning, security and maintenance.

    Solamon typically offers a ground-mounted solar array of integrated photovoltaic cells over 5 acre packages of land, which is called the Apollo Acre™. The company now also designs and installs custom solutions with local partners to provide roof-mounted and parking lot systems that could be easily augmented by micro wind turbine technology and other innovative features.

    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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