Sol Ecolution Expands its Renewable Energy Footprint in the Caribbean through its Acquisition of Content Solar in Jamaica

July 24, 2024 - Sol Ecolution SEZC (“Sol Ecolution”, or the “Company”), a leader in renewable energy solutions in the Caribbean, Central and South America, is pleased to announce the acquisition of the 32MW Content Solar PV Farm in Jamaica (the “Project”), from WRB Serra. This acquisition underscores Sol Ecolution’s commitment to ownership of renewable energy assets and infrastructure over the long-term, in support of the sustainable development of the renewable energy eco-system in the Caribbean.

Content Solar is the premier utility-scale solar energy project in Jamaica, providing sufficient energy to power more than 21,000 homes annually. Since assuming commercial operations in 2016, the Project has been instrumental in advancing Jamaica’s renewable energy capacity. With this acquisition, Sol Ecolution continues to strengthen its position as a pivotal player in the region's transition to clean energy.

Dami Adesegha, CEO of Sol Ecolution, commented on the acquisition, stating, "We are thrilled to welcome Content Solar into the Sol Ecolution family. This project aligns perfectly with our vision of sustainable, long-term investment in renewable energy in the Caribbean. As a partner to The Sol Group, a company that has been instrumental in the Caribbean energy eco-system over the past 50 years, Sol Ecolution represents permanent capital seeking to invest in, own and operate renewable energy assets over the long-term. As such, Ecolution is a natural partner of choice for developers, investors, and asset owners who do not seek to own and operate assets indefinitely, or maintain a permanent presence in the region. We are committed to permanent, reliable capital investment in assets throughout their lifecycle. Our goal is to foster long-term partnerships and create lasting value to sustainably energize the communities we serve."

Sol Ecolution's unique approach ensures that projects like Content Solar deliver not only short-term benefits, but also form an integral part of a long-term sustainable future. By maintaining a permanent capital structure, Sol Ecolution is dedicated to the ongoing development, optimization, and operation of its assets, ensuring they continue to deliver environmental and economic benefits over their entire lifespan.

Ivan Cheng, CFO of Sol Ecolution, added, "The Caribbean, Central and South America are natural destinations for our investments, given the abundant renewable resources and the growing need for sustainable energy solutions. We are committed to enhancing the region's energy infrastructure and contributing to its economic development. Our acquisition of Content Solar is a testament to our dedication to this mission."

With the addition of Content Solar, Sol Ecolution's portfolio now includes a diverse range of renewable energy projects through the region, reinforcing its status as a leader in the region’s clean energy landscape. This acquisition not only expands Sol Ecolution's capacity but also exemplifies its commitment to fostering sustainable energy independence in the Caribbean, Central and South America.

About Sol Ecolution Sol Ecolution is dedicated to the development, acquisition, and operation of sustainable energy projects. With a focus on long-term investment and environmental stewardship, Sol Ecolution aims to drive the transition to clean energy and create lasting value for communities worldwide.