Jamaica's Corporations to Receive Positive Benefits of Solar Energy; Equipment Key to Solamon Partnerships

Toronto, Canada, January 31, 2013 --(PR.com)-- Jamaica intends to become a powerful competitor in the realm of manufacturing within the next decade. In order to do so, the country's leaders have needed to address their century-old energy solution. According to the country's Minister of Industry, Investment and Commerce, Hon. Anthony Hylton, who recently announced the island's intention to become recognized as the fourth global logistics hub, along with Singapore, Rotterdam and Dubai. He also emphasized that Jamaica’s transformation required coordinated action to upgrade the country’s own logistics capabilities to realize its potential on that scale.

Hence, with respect to Jamaica's recent considerations regarding the adoption of “Power Wheeling,”, whereby energy generated remotely can be applied to the client’s account regardless of geography, Solamon's Jay Yeo is currently laying out the preliminary framework to develop a Renewable Energy Park in Jamaica, a first for the country and an innovative solution that will enable corporations such as those being drawn toward the logistics hub at Caymanas to effortlessly secure long-term, predictably-priced electricity via renewable sources, and hedging against rising utility rates.

"These corporations," Yeo explains, "who are bringing new jobs to the island will lease renewable energy capacity at market prices with a competitive discount applied and utilize that electricity in their own factories and businesses. As utility rates continue to rise for others, the customer’s savings will grow every year."

Leasing capacity eliminates high up-front cost, allows the consumer to select a PV system based on their consumption needs, not their available land or rooftop footprint and the virtual nature of power wheeling should allow their service to travel with them as their business moves or expands. "This scenario does not interfere with the current All-Island License," continues Yeo, "as customers are simply leasing equipment, not purchasing electricity from Solamon."

When approached with the notion of adopting renewable energy, business owners often cite three basic concerns, notably: upfront costs, available land area and whether they'll be at the same location long enough to reap the total benefit of solar given the payback period. Prior to the recent rate announcement, Solamon has been on the island and meeting with "heavy users" to also gauge the public's response and determine what size would be necessary. "Minimally," explain Yeo, "we are looking to build a 5 MW project and have begun to seek out serious land owners and property managers."

Wheeling represents a comprehensive approach to improve any developing nation’s energy infrastructure, and addresses future energy challenges today. It is expected the OUR in Jamaica will determine the methodology for wheeling pricing by March, host another public consultation in April, then implement the recommendations sometime after June.

"We have a good idea what costs will be," Yeo concludes, "however, at this time it all depends on the OUR and the stipulations of this arrangement. We are confident a solution can be crafted that will meet the needs of Jamaican consumers, including those corporations looking to Jamaica as an ideal location for a logistics centre down the road, but wary of oil-based electricity costs in the future."

Solamon Energy typically offers a ground-mounted solar array of integrated photovoltaic cells over a package of land called the Apollo Acre™. The company now 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.

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.