Innova Solar Colombia to Build the First Floating Solar Project in the Caribbean

Innova Capital Partners ("Innova"), through its subsidiary in Colombia, Innova Solar Colombia ("ISC"), will develop and build the first floating solar project in the Caribbean islands, specifically on the island of Providencia, San Andrés, Colombia.

The Project includes the installation of a 74 kWp floating solar photovoltaic system on the Fresh Water Bay dam, and it is estimated that with the energy generated by the system it will be possible to fully supply the electricity needs of the municipal aqueduct. The Project will enter into commercial operation before the end of the year.

Tillväxtverket, the Swedish Agency for Economic and Regional Growth in the Demo Environment call, selected the project for a financing award. Once completed, the solar power plant will be transferred to the municipality of Providencia.

Ciel & Terre ("C&T"), world leader in the development of floating solar photovoltaic projects, will be the technological partner in this initiative, supplying their HYDRELIO® technology. In 2017, Innova and C&T entered into an agreement for the development of floating solar projects in Colombia.

"We are very happy to contribute in the decarbonization of energy systems in the Caribbean islands. This will be an innovative and pioneering project on the islands that will demonstrate the viability and potential scaling of the technology in Colombia and other countries in the region," said Mukesh Prasad, Managing Partner of Innova. In turn, Mr. Bernardo Bent Williams, mayor of the island of Providencia, said: "The municipality of Providencia supports the execution of sustainable projects that provide development alternatives to the community and the municipality. This is an example on how the public sector and private sector can successfully collaborate to develop projects which are sustainable socially, environmentally and financially. We are very pleased to have the support of the Swedish Government in this initiative."

In addition, Eva Pauly-Bowles, International Director of Sales at C&T, stated: "This will be our second project in Colombia. We are proud to contribute with our technology and knowledge for the execution of renewable energy projects in the country. This project is special, because it is located in an area that has been declared a biosphere reserve by UNESCO."

Source: Innova Capital Partners
Date: Jan 28, 2019