solar panels - renewable energy Jamaica

Jamaica, February 17, 2022 – Following an equity investment in Soléco Energy in 2021, Impact asset manager Deetken Impact Sustainable Energy (DISE) joins Soléco Energy in celebrating the closing of a financing of US$24.3 million from the IDB Invest, the private sector arm of the Interamerican Development Bank. They will provide up to US$13.3 million in Senior A Loan financing and mobilize up to US$11.0 million from blended finance sources (the Clean Technology Fund). This financing contributes to the development of photovoltaic solar generation in Jamaica; ensuring the completion of an initial set of solar photovoltaic plants, while providing access to financing for the deployment of subsequent installations, thus shaping a potential portfolio of up to 26MW of new distributed solar generation capacity. 

Deetken Impact is excited to be part of the experienced, multidisciplinary team that is developing a business model that is expected to be a catalyst in replicating similar models in surrounding countries in Central America & the Caribbean that experience similar challenges as those of Jamaica, diversifying the region’s energy matrix. Given that Jamaica’s current energy mix is over 80% oil-sourced, renewable projects here have an even higher climate impact, greatly reducing the carbon footprint of our client’s operations. Furthermore, this project incentivizes concrete outcomes in gender, diversity, and inclusion, since a share of the workers trained and employed in semi-technical tasks are women, and contractors will take the Women’s Empowerment Principles tool assessment. 

This investment is expected to contribute to five United Nation’s Sustainable Development Goals (SDGs): Affordable and clean energy (SDG 7), Decent work and economic growth (SDG 8), Industry, innovation and infrastructure (SDG 9), Climate action (SDG 13) and Partnerships for the goals (SDG 17).

“Through this deal, IDB Invest reinforces its commitment to promoting sustainable infrastructure within the Caribbean region, together with Soléco Energy. The financing strengthens the expansion of renewable energy generation in Jamaica and incorporates concrete outcomes in gender, diversity, and inclusion that will contribute to inclusive and sustainable growth in the country” commented James Scriven, CEO of IDB Invest.

Fernando Alvarado, DISE’s CEO welcomes IDB Invest’s participation in Soléco Energy: “We celebrate the approval of the IDB Invest loan and the co-financing from the Canadian Clean Technology Fund, which is a confirmation of the solid business proposition that Soléco Energy brings to the Caribbean Commercial and Industrial sectors by offering solar PV energy solutions at competitive price while contributing to the renewable energy transition, COVID-19 economic recovery and the resiliency of Caribbean island countries. Moreover, we are thrilled to be supporting a company led by an empowered native Jamaican female entrepreneur that should be an inspiration for hopefully many more women already active or considering developing a career in the sustainable energy sector.” 

About Deetken Impact Sustainable Energy

Deetken Impact Sustainable Energy (DISE) manages two funds that co-invest in renewable energy and energy efficiency projects and companies in Central America and the Caribbean.  With $60MM in committed capital, the funds have approved investments in 15 companies in 6 countries.  DISE is supported by its partnership with Deetken Impact, a Canadian impact asset manager focused on investments in women’s empowerment, clean energy, and social enterprises in Latin America and the Caribbean. DISE and Deetken Impact together manage $140 million in impact assets with a diverse team of seasoned impact investment professionals based in Central America, South America, the Caribbean and Canada and a track record of more than two decades. DISE is a signatory to the Operating Principles for Impact Management and has been selected to the ImpactAssets 50 Impact Investment Fund Manager Showcase for two consecutive years. 

About Soléco Energy

Soléco Energy was created to fill a gap in the Caribbean markets for a one-stop solution of solar and storage systems for large commercial and industrial clients.  The company aims to lead the transition to a sustainable energy future through distributed generation.  Soléco delivers and finances turn-key renewable solutions that help customers reduce their energy consumption and cost.  The company believes that the future of business energy in the region is “decentralized, digitized and decarbonized”.   

Soléco Energy focuses on the distributed generation market, while its sister company Rekamniar Frontier Ventures, develops utility scale projects in the region.  Rekamniar developed the largest solar plant in Jamaica in partnership with French power producer Neoen.  Together they successfully commissioned a 51MWp solar plant in Paradise Park, Jamaica. 

For more information, visit: or follow us on LinkedIn @DeetkenImpact

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Magali Lamyin, Director of Communications and Development for Deetken Impact


Director of Communications and Development


Magali brings extensive market intelligence, business development and marketing experience from her work at the Central Bank of Mexico, the Canadian Institute for Market Intelligence, and the IESE-PWC e-Business Centre in Barcelona. She also co-led national marketing campaigns for businesses in the hospitality and early childhood education sectors for almost a decade before joining Deetken. In her current role, she is responsible for leading Deetken Impact’s communications, marketing and branding strategy. She is also involved in the due diligence process for project selection with an emphasis in Mexico.

Magali holds a BA in Economics from Mexico's ITAM and a Master's degree in Economics from the University of British Columbia.

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Jose Lamyin, Managing Partner Deetken Impact


Managing Partner


José has extensive experience as a business advisor for clients throughout Canada, Europe and Latin America in mining, telecommunications, and finance. Prior to co-founding The Deetken Group, José worked for Teck Cominco in Peru and Canada and Deutsche Bank in London (UK). José has spearheaded much of the strategic growth of Deetken Asset Management since inception and is currently focused on investment selection.

José received his BS in Engineering from the University of British Columbia and MBA from IESE School of Business (Barcelona). Born in Peru, José is fluent in English and Spanish.

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Alexa Blain, Managing Partner Deetken Impact


Managing Partner


Alexa is responsible for finance, operations and investor relations at Deetken Impact. She brings over 10 years of experience in financial consulting and asset management, with specific expertise in company and investment analysis, business valuation and securities/corporate finance. Prior to joining Deetken, she spent three years with African Alliance, a pan-African financial services group, where she focused on expanding the firm’s retail financial services operations as well as on the origination and negotiation of new capital. In addition, Alexa has six years of asset management experience with the Canada Pension Plan Investment Board, the Macquarie Group and the Ontario Teachers’ Pension Plan.

Alexa is a CFA Charterholder. She has also completed an MA in Financial Economics and an Honours BA in Economics, both at the University of Toronto.

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Fernando Alvarado, Head of Deetken Impact Sustainable Energy



Honduras Renewable Energy Managers (HREM) and Caribbean Renewable Energy Managers (CAREM)


Fernando Alvarado leads the General Partner and Investment Advisor of two clean energy and energy efficiency project finance and venture capital funds: Honduras Renewable Energy Financing Facility (H-REFF) and Caribbean Basin Sustainable Energy Fund (CABEF), which he structured and runs with a combined target capitalization of $100m.

Development Investment Banker with 28 years of international credit and investment experience and 18 years of direct experience assessing diversified renewable energy portfolios in Latin America & the Caribbean. He has participated in more than 50 syndicated credit and investment transactions for renewable energy projects in excess of $250 MM. He led the creation, structuring, fundraising, legal closing and portfolio construction of several specialized renewable energy funds.

Costa Rican, based in San Jose, Mr. Alvarado has an MBA in Banking and Finance cum laude from Universidad de Costa Rica.

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Carl Black, Portfolio Manager Deetken Impact


Portfolio Manager


Carl is a Portfolio Manager with Deetken Impact focused on analyzing and working with MSMEs, social enterprises, and renewable energy developers in Latin America and the Caribbean. His main responsibilities include supporting business development, managing technical assistance projects, leading investment due diligence, and monitoring portfolio performance. Prior to joining Deetken Impact, Carl worked for five years as a consultant, advising public sector clients an non profits in Canada and financial services companies in Latin America. He started his career at the Bank of Canada, where he researched issues related to household and business credit. 

Carl completed an Honours BA in Economics at the University of British Columbia. He also holds an MSc in Economics & Development from the University of Oxford, where he earned distinctions in quantitative and development economics.

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Cristobal Aguirre, Investment Analyst at Deetken Impact


Investment Analyst


Cristobal has over 6 years of experience in the asset management industry, where his responsibilities have ranged from asset allocation and portfolio management to risk analysis and software development. Before relocating to Canada, Cristobal worked as a senior investment analyst in AFP Habitat—Chile’s largest pension fund—where he led the tactical asset allocation and macroeconomic research for emerging markets.

Cristobal is a CFA Charterholder, and completed a BA in Economics at Universidad de Chile.

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Chad Parsons, Senior Investment Analyst at Deetken Impact




Chad has worked as a consultant in business and technology for 20 years – often helping clients with their business transformation initiatives.    He has worked with start-ups, government, and established businesses to further their product and service offerings with a balanced approach.   After pursuing a research degree on leveraging technology for social and economic development; Chad has found a valuable alignment of his background with Deetken’s innovative impact investments. 

Chad completed a BS in Engineering from the University of British Columbia and has a MSc with distinction from the University of Manchester (UK).

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