Solamon Recognizes Importance of Grid Parity Announcements; Set to Develop Installations Across Sunbelt

Kingston, Jamaica, June 09, 2013 --( Solamon Energy Corp's Jay Yeo proudly announced today the company will continue its growth into South Asia this year, and increase budgets supporting the company's initial efforts targeting specific states within India that are proving fruitful, and also that the company is developing new opportunities in South America. "As well," the President adds, "we are taking a serious look at the burgeoning opportunities across the Middle East right now."

At the Solar 2013 conference held in Melbourne last month, Suntech’s Stuart Wenham (sourced from Applied Materials) highlighted the extent of “grid parity” for solar PV, which has now been reached in 102 countries across the world. This definition of “grid parity” is the cost of rooftop solar versus the cost of electricity sourced from the grid.

He said solar PV will also challenge fossil fuels at a utility level toward 2020 – as it already does in those with high gas and diesel costs, and will offer the cheapest avenue to countries which have little electricity infrastructure. “We remain technology agnostic and understand that the relationships developed today will yield results likely in a year and by then the project’s prices will be competitive," Wenham concluded, "nevertheless 102 markets that have reached grid-parity speaks volumes about solar's future potential."

Given this heightening optimism, Yeo added he expects to outgrow the recently opened Solamon project office in Kingston and will seek larger space in Jamaica to be ready in a few months, and possible other locations whereby to effectively and efficiently conduct campaigns in both Eastern and Southern Europe that make sense in the short-term, and to successfully manage current efforts underway across the Caribbean and Central America.

Yeo is expected to visit several key leaders this summer prior to attending several conferences this fall, including Saudi Arabia. "We have been planning this expansion for several months," Yeo explains, "and although we can't give away any secrets, we are happy to say there is low hanging fruit in the garden, and we are prepared to move quite quickly if necessary."

Recognizing the amount of time necessarily required to conclude each deal on a territory-by-territory basis, Yeo says the company has an extremely busy schedule of visiting lined up, adding 1) hardware prices will continue to fall and savings are passed on, 2) demand for electricity will increase and drive renewable development, and 3) energy is attractive as an investment, while there is room for numerous parties local and foreign to participate, and all reap long-term benefits of solar energy.

Solamon Energy typically offers a ground-mounted solar array of integrated photovoltaic cells over a package of land called the Apollo Acre™. The company now also designs and installs custom solutions with local partners to provide roof-mounted and parking lot systems that are easily augmented by micro wind turbine technology and other innovative features.

About Solamon: Solamon Energy Corp sells integrated arrays of ground-mounted and rooftop photovoltaic cells. These solar power plants are connected by cable to varied transmission equipment, including converters, inverters and batteries, utilizing 5 acres of land per unit; each unit is called an Apollo Acre™. Additionally, it is expected the company’s business activities will spin-off many jobs locally, given engineering requirements, construction, unit commissioning and subsequent maintenance.
Solamon Energy Corp.
Christian Giles