SEC purchased parcel of land for solar park

On Friday the 29th of April 2016, at the offices of the civil law notary Ms. Faride Tjon Ajong, located in Philipsburg St. Maarten, the closing took place with respect to a parcel of land in the district of lower Zion’s Hill in Saba.This parcel of land is situated near Juancho Yrausquin Airport and will be used to develop a solar park.

Through subsidies of the Ministry of Economic Affairs (in Dutch: ‘Economische Zaken’), the funds were made available to Saba Electric Company N.V. to purchase the parcel of land. With this closing the land can finally be further developed into a solar park and Saba Electric Company N.V. is one step closer to establishing a more renewable form of energy production in Saba.

During the closing, Saba Electric Company N.V. was represented by its Managing Director, Mr. Charles D. Johnson. The seller of the parcel of land was represented by Messrs. Albert Pensis and Michael Feeley of the real estate company Saba Island Properties N.V. and the Government of the Public Entity of Saba, the sole shareholder of Saba Electric Company N.V., had its legal counsel Mr. Gerald de Jong observe the closing.

Press release SEC.