Regional energy solutions provider the Sol Group, operator of Texaco service stations, as it continues to diversify operations, is moving to double down on the renewables market with plans to engage some 50 new projects across the Caribbean.
"Sol in early 2021 launched our Ecolution business to house our renewable energy initiatives across the region and since then we have seen significant momentum beginning projects at Sol sites across 18 markets within the region. We are also consummating a partnership to develop approximately 50 renewable energy projects in the Caribbean while assessing renewable energy technologies other than solar which can be applied in the region," Karoline Smith, general manager of Sol, told the Jamaica Observer in a recent interview.
"Solar is leading our thrust right now as it's what we have been focusing on. Sol Ecolution [the renewables arm] is right now looking at projects involving solar panels at different buildings and service stations across the Caribbean. We're in the Caribbean where we always have sun, so we saw it useful to venture into this area as an alternative to fossil fuel," Smith further said to the Caribbean Business Report.
The company, following its acquisition of the assets of GB Energy earlier this year, through its over 65 Texaco-branded stations operating locally, serves customers and partners through a range of retail, aviation, LPG/autogas, commercial and lubricants activities. The company, which also stands as one of the largest fuel marketer in the Caribbean, has a footprint that currently spans some 23 countries, some of which include The Bahamas, Bermuda, Cayman Islands, Grenada, St Lucia, and Guyana.
"We have a big project going on right now in Barbados, looking at solar panels, more will come later on that, but the focus at the moment is to ensure that Barbados is provided with our renewable offering," Smith said.
"As a company we are looking at all our business lines and in getting additional customers for our Texaco brand, the Texaco fuel has been around for over 103 years and it is a great brand but we are just looking to ensure that we offer everything to our consumers and for everyone in the motoring public," she added.
Forging recent partnerships with Evergo to install electric vehicle chargers across a number of its stations locally, Smith said the move aligns well with the company's Ecolution commitment which seeks to facilitate energy transition not just through solar technology but by decarbonising the transport sector.
"We are happy to partner with Evergo to ensure that EV charging stations are available for the motoring public that chooses to go electric in Jamaica. The partnership arose from our desire to support government's national energy policy with the goal of providing affordable and accessible energy supplies with long term energy security," she said while anticipating greater use of the service as more EVs comes to local roads.