Electryon power inc.


TORONTO, March 29, 2023 /CNW/ - Electryon Power Inc. ("Electryon") a private renewable energy company, is pleased to announce that it has received interconnection approvals from the Colombian government (UPME - Unidad de Planeación Minero Energetica) for two (2) utility scale solar PV projects, namely: (i) Helios Guamo – 19.9MWac, and (ii) Helios Lanceros – 19.9MWac (the "Projects"). Electryon is the sole originator, developer, and owner of the Projects, having finalized the most critical development activities to advance both Projects to "Ready to Build" by Q3 of 2023, with an envisioned "Commercial Operation Date" of December 31st, 2024. The Projects will generate and supply ~100GWh/year of "green" electricity to the Colombian power grid and contribute to Colombia´s decarbonization goals. Finally, Electryon continues to develop its pipeline of utility scale solar PV assets, targeting over 500MWac of new interconnection requests for 2023.

"We are pleased to have received interconnection approval for two (2) utility scale solar PV projects. This is a very significant achievement since only 13% of all interconnection requests filed in 2022 were approved by UPME. The current development status of these Projects showcases the execution capabilities of Electryon's management team and is a steppingstone for Electryon towards its goal of becoming a leading developer and owner of renewable energy projects in LATAM" said Dr. Alvaro Torres, Chief Executive Officer of Electryon.

Electryon is also continuing to advance its "green" hydrogen/ammonia portfolio consisting of two (2) projects totaling ~795MW of electrolysis to produce ~75kt/year of "green" H2 or ~420,000 tons/year of "green" ammonia. Project "Amon H2" is a wind to hydrogen project located in La Guajira, Colombia, in partnership with other strategic international corporations. Project "Cartagena H2" is a solar to hydrogen project located in Cartagena, Colombia, with Electryon being the sole originator and developer. Electryon's "green" hydrogen/ammonia projects have the pre-feasibility completed and are moving to advanced feasibility by Q4 2023.

About Electryon Power Inc.

Electryon Power Inc. is a private Canadian corporation with a Latin America focused renewable energy development strategy. With current ownership of a project portfolio at the feasibility stage and beyond, Electryon has an extensive pipeline of potential projects and a proprietary value-add process for screening and advancing the pipeline. Electryon's stated mission is to create a scalable and investable platform to own and operate a 2,000 MWac Portfolio across Latin American in countries such as Colombia, Panama, Bolivia, Argentina, Chile, Peru, Guyana, among others, including projects ranging from Solar Photovoltaic, Wind Energy and "green" Hydrogen/Ammonia.


SOURCE Electryon Power Inc.

For further information: Geoff St. Clair, VP of Finance, Electryon Power Inc., Geoff.stclair@electryonpower.com, Tel: +1 647 542 3600

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Mark Monaghan, Executive Chairman