Gran Colombia Gold Corp., the Toronto-headquartered gold miner with operations in Colombia, has agreed to acquire the 11.2 MW “Suarez” solar project located in the Tolima region, Colombia, from Renergetica Colombia SAS, a subsidiary of Renergetica SpA.
The Suarez project is expected to become operational later in 2020 and have a life of 30 years. The estimated capital cost of the project is $8 million.
The project would qualify for “green financing” up to 70% from local banks, as well as special Colombian tax breaks applicable to investments in renewable energy.
“We see the opportunity to invest in renewable energy initiatives, such as the Suarez Project, as the next step in doing our part to combat global warming,” said Lombardo Paredes, Chief Executive Officer of Gran Colombia. “With the new Suarez plant, approximately 10,300 tons of CO2 per year will not be released into the environment.”
Gran Colombia is the largest underground gold and silver producer in Colombia.
Genova, Italy-based Renergetica SpA is a developer in the field of renewable energy and of the smart grid worldwide and an Independent Power Producer and asset manager for third party investors.
Read the Gran Colombia Gold release HERE.
Image Source: Gran Colombia Gold