RUBiS Energy Jamaica Limited (REJL) is anticipating future growth through RUBiS Group’s 80 per cent acquisition of the leading independent solar energy company Photosol France. This strategic investment is to accelerate the integration of renewable energies into its portfolio of offers through the launch of RUBiS Renewables – a new division of the Euronext listed international energy multinational.

Alain Carreau, REJL CEO stated, “RUBiS’ strong footprint in Europe, Africa and the Caribbean, combined with the recognised know-how of the Photosol team in France, is expected to open opportunities for RUBiS Renewables to develop and replicate the model on an international scale.”

Created in 2008, Photosol is an independent photovoltaic (solar) energy producer, specialising in large-scale ground-mounted power plants or photovoltaic shelters. The group’s dedicated team focuses on the rehabilitation of brownfield sites and the creation of large-scale projects with agricultural and photovoltaic coactivity.

“Photosol’s management has developed one of the largest independent solar energy companies in France and has an excellent reputation in the market. Both companies share similar culture and values,” Carreau continued.

The £1.2 million deal allows for RUBiS to deepen its business in the renewable energy space and opens the door for RUBiS to supply its markets with photovoltaic or solar panels, a developing market in the Caribbean and in Jamaica.

The acquisition of Photosol vertically aligns with REJL’s management of a network of service stations across the country and creates an opportunity for the company to broaden its customer base.  

REJL currently supplies advanced fuel technology to retail, commercial and industrial customers under the brand RUBiS Ultra Tec Fuels, along with its advanced range of RUBiS Lubricant products.

Worth noticing, locally, the company is the leading supplier of industrial base chemicals.

In addition to commercial fuels, REJL also offers an ultimate generation of fleet management system via its RUBiS Card.

The acquisition of Photosol has an expected completion date of March 2022, after which RUBiS will unveil its sustainable division, RUBiS Renewables, dedicated to the development of renewable energy. RUBiS Renewables will enter the solar market which is one of the most dynamic segments in the renewable market.

RUBiS will also seek to tap into existing solar opportunities, particularly in Africa and the Caribbean markets. The RUBiS Group also has committed to reduce carbon emission discharges from its operations by 20 per cent come 2030 through its diversification in renewable energies.

These plans are in alignment with Jamaica’s target of achieving 33 per cent of electricity generation from renewables by 2030 and 50 per cent by 2037.