BMR Energy Announces Sale Of Operating Plants, Eyes Future Growth In Development

BMR Energy LLC is excited to share that it has successfully completed its reorganization and divestiture plan. As part of this process, BMR has sold its affiliate in the British Virgin Islands and its stakes in five renewable energy projects located in Jamaica, the U.S. Virgin Islands, the Cayman Islands, and Guatemala to InterEnergy Group Limited. This transaction represents a major step for BMR, allowing the company to refocus on its primary mission: developing, financing, and implementing renewable energy projects in the Caribbean and select regions of the United States.

Bruce Levy, President of BMR Energy, said in a statement, “With the reorganization and divestiture behind us, BMR Energy is well-positioned to accelerate its mission of delivering clean energy solutions to key markets. We’ve also identified a new group of equity investors to support the successful execution of our future projects as they reach financing.”

BMR Energy LLC launched its reorganization and divestiture plan in late 2023 to provide liquidity for investors and shift its focus entirely to renewable energy development. A significant milestone in this process was achieved in June 2024 with the sale of the Valle Escondido Solar Generating facility (6.4 MWp, Bagaces, Costa Rica) to Coope Guanacaste, a local electric cooperative. The most recent phase of the plan involved transferring several flagship renewable energy projects to InterEnergy Group Limited.

These projects include Jamaica Wind (36.3 MW, St. Elizabeth, Jamaica), Spanish Town Solar (5 MWp, St. Croix, U.S. Virgin Islands), Bodden Town Solar (6.5 MWp, Grand Cayman, Cayman Islands), Green Solar (7.0 MWp, Estanzuela, Guatemala), and Donoe Solar (6.4 MWp, St. Thomas, U.S. Virgin Islands). All these facilities operate under long-term power purchase agreements (PPAs) with local utilities, ensuring stable energy supply to their regions.

By integrating these assets into its portfolio, InterEnergy adds to its already extensive operations of over 2.4 GW of capacity across the Dominican Republic, Panama, Jamaica, Chile, and Uruguay, with plans to expand into three additional countries. This transaction not only strengthens InterEnergy’s presence in the renewable energy sector but also ensures BMR’s shareholders receive a full return on their investments since the company’s inception in 2013. Among those benefiting is Virgin Group, BMR’s primary shareholder since 2016.