Onyx Service & Solutions, Inc. (OTCQB:ONYX) announced that Company President Malcolm Burleson left for Peru today to further the Company’s strategic business plan of developing solar power projects in Latin America and the Caribbean, where current electricity costs are typically much higher than the US. ONYX is currently in the hunt to develop a municipal solar power project for the city of Lima, the country’s capital and largest city and for the city of Chicaylo, which is the capital of the country’s northern Lambayeque Region.
The ONYX business plan recognizes that there is an extremely lucrative market for solar power projects throughout Latin America and the Caribbean, especially in nations that currently use diesel generator produced electricity. A large portion of the Caribbean and Latin America uses diesel generator powered electricity, causing rates between 35 cents to 44 cents per kilowatt hour. The Company is currently concentrating on securing the most profitable solar power projects in the region.
ONYX’s pursuits have been fruitful, as the Company has secured two solar power projects in Honduras, one of which is 22 megawatts as well as making good headway toward securing solar power projects in Panama and Columbia.
“Once again, we expect this trip to result in very positive results for the Company,” Burleson stated. “Our decision to seek out the most potentially lucrative solar energy projects in the Western Hemisphere seems to be a sound one,” he concluded.
Onyx Service & Solutions, Inc. aggressively acquires, develops and markets the most promising and potentially profitable energy projects and technology possible. The Onyx mission is to manifest cutting edge energy technology, products, manufacturing advances and construction projects to successfully compete in a global energy marketplace, which includes General Electric (NYSE: GE), Trina Solar (NYSE: TSL), JA Solar (NASDAQ: JASO) and Canadian Solar Inc. (NASDAQ: CSIQ).