Investing in cannabis does not always mean that companies should only focus on cannabis-based products, many companies are using the cannabis industry as a gate to develop projects which would help in other areas. Khiron Life Sciences has just announced the development of a solar panel park that will be located inside a cannabis production greenhouse and provide energy to it.
The multinational pharmacist Khiron Life Sciences and renewable energy company ReFeel has announced an agreement to install the first solar park in Tolima, Colombia which will be focused on providing energy to a medical cannabis production complex.
This project will consist of a 2,600-panel solar park, which will generate 700kwh with a reduction in CO2 emissions of up to 570 tons a year, and will require an investment of nearly $1 million for it to be fully completed. When finalized, it is expected that the cannabis production complex will gain a significant level of energy independence.
All the parties involved in the development of this project have expressed that one of the main objectives is not only to help the cannabis sector but to achieve a positive impact on the environment by focusing on clean energy, while also helping in the development of the community in Doima, by creating 20 direct jobs.
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Clean energy to be introduced in the cannabis sector for the sake of the environment
Alvaro Torres, executive director and co-founder of Khiron Life Sciences expressed that: “This solar park will allow us to save energy costs and self-generate 40% of our energy needs, while reducing CO2 emissions by 570 tons a year. This project is very much in line with our superior purpose of positively impacting people’s quality of life,” remaking the benefits both to the environment and the positive impact it will have on developing the cannabis sector.
On the other hand, the president of Procolombia, the governmental entity in charge of promoting the Colombian tourism sector and to regulate international investment, said that: “This project not only allows the diversification of energy generation but also reduces dependence on the water system and reduces CO2 emissions. It also opens the new frontier to promote national development, which is what the Government and ProColombia are committed to in order to encourage new investments in the sector.”
An energy project for Colombia with roots in the cannabis industry
ReFeel, which is the Italian company in charge of this project, will assist in the operation and maintenance of the infrastructure, which will employ an average of five people per month.
The cannabis industry in Colombia is experiencing exponential development, with many international companies looking to invest in the country as it poses the right conditions for cultivation and moreover it has a potentially large market for cannabis-based products.
This energy project is just another one of many tied to the cannabis sector and it would help solidify the cannabis industry as an investment prospect. Not only to companies looking to expand into the cannabis market but also to others who want to use it as a way to invest in other sectors like the energy one.
“In addition to the self-generation facilities, we continue to develop Multi-MW projects totaling nearly 400MW in Boyacá and Cundinamarca, which we hope will enter the Colombian energy matrix as soon as possible,” said ReFeel’s executive director in Colombia, Mauricio Sarria.
Khiron is betting on Colombia as an investment target both for renewable energy and cannabis
Khiron Life Sciences is a Colombian company with Canadian investment whose main operation is in Latin America, and has a presence in the United States and Europe.
It is considered a leader in the Latin American cannabis industry, being the first company to obtain a license for the cultivation, production, local distribution and export of medical cannabis products in the country.
On the other hand, ReFeel is a company of Italian origin expert in renewable energies, with 13 years of experience in engineering, design, construction and operation of photovoltaic plants, and more than 80MW installed for self-generation in Italy, Romania, Panama, Dominican Republic, Costa Rica and Colombia.
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