October 14, 2021 – The Sol Group (Sol), the leading provider of energy solutions in the Caribbean, is excited to announce a major step towards further energizing the region with the launch of a low carbon and renewable energy division: “Sol Ecolution”. Sol Ecolution was launched at the recent CARILEC (Caribbean Electric Utility Services Corporation) conference, with the purpose of delivering on Sol’s commitment to energize the communities we serve by facilitating the development of diverse renewable and low carbon energy solutions.

With a long history and deep understanding of the Caribbean energy eco-system, Sol Ecolution is uniquely positioned to support our customers, stakeholders, and communities through this transition. Our capabilities include financing, logistics, technical expertise, and Engineering, Procurement and Construction services. Sol Ecolution is excited to leverage these capabilities to support the transition towards lower carbon and renewable energy solutions across the region.

Sol Ecolution has started deploying solar photovoltaic (PV) technology in a retail service station in Barbados and is currently assessing an additional 29 pilots in retail stations spanning Barbados, St. Maarten, Grenada, Martinique, Guadeloupe, the Bahamas, Bermuda, the Cayman Islands, and Puerto Rico. Over the next few years, it will expand further to include our company-owned retail and terminals networks.  Our offices in St. Maarten and our Bermuda terminal will also be producing PV energy in the short term and we expect to install at least 5 more megawatts (MW) of PV energy generation on commercial scale systems across our offices and unused land from our terminals. Beyond deploying solar technology on assets.

“We are excited by the opportunity to play a key role in enabling sustainable energy solutions in the communities in which we live, work and play, now and for generations”, said Christophe Zyde, Vice President Corporate Development and Sol Ecolution. “Sol is actively engaged in discussions with its utility and commercial customers to identify opportunities to facilitate the development of renewable energy for third party use across the region”, added Zyde.

Dami Adesegha, Group Manager of Sol Ecolution stated, “While we are in the early stages of this promising journey, we see this as a long-term initiative that will play out over decades, and we have committed a significant amount of capital over the next several years to support this initiative”.

The Sol Group of companies operates in 22 countries across the Eastern Caribbean, Puerto Rico, Dominican Republic, Bermuda, Bahamas, Cayman, Belize, Guyana, Suriname, French Guiana, Martinique and Guadeloupe. Sol supplies fuels, lubricants, bitumen and LPG through an extensive service station network, with marine, aviation and commercial operations in the Caribbean.

For further information, please contact:

Dami Adesegha

General Manager

Sol Ecolution

Sol Renewables SEZC | Antilles Trading Company SEZC

Address: Ground Floor BritCay House, 236 Eastern Ave.

Mailing: 10 Market Street, Suite 935

Grand Cayman, KY1-9006

Cayman Islands

+1 (345) 525 5552 mobile

+1 (345) 749 0025  fax

[email protected]

https://www.solpetroleum.com

www.facebook.com/solpetroleum