BMR Energy Divests Operating Plants in the Caribbean and Guatemala to InterEnergy

Estimated read time 3 min read

(Editors at Energy Analytics Institute, 13.Jan.2025) — BMR Energy LLC completed its reorganization and divestiture plan. The company has finalized the sale of its British Virgin Islands affiliate and holdings in 5 operating renewable energy projects across Jamaica, the US Virgin Islands, the Cayman Islands, and Guatemala to InterEnergy Group Limited.

This transaction provides shareholders with a full return on their capital investments in BMR since its inception in 2013, including Virgin Group, BMR’s primary shareholder since 2016, BMR announced 13 Jan. 2025 in an official statement.

This strategic transaction marks a significant milestone for BMR as it transitions back to its core focus: the development, financing, and implementation of renewable energy projects throughout the Caribbean and select areas of the US.

“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 president Bruce Levy said in the statement.

Strategic Evolution

The reorganization and divestiture plan, initiated in late 2023, aimed to provide liquidity for investors while refocusing BMR’s resources on renewable energy development.

In Jun. 2024, BMR achieved a critical milestone with the sale of its Valle Escondido Solar Generating facility (6.4 MWp, Bagaces, Costa Rica) to local electric cooperative Coope Guanacaste.

The most recent transaction transfers ownership of several flagship projects to InterEnergy, including:

  • Jamaica Wind (36.3 MW, St. Elizabeth, Jamaica)
  • Spanish Town Solar (5 MWp, St. Croix, US Virgin Islands)
  • Bodden Town Solar (6.5 MWp, Grand Cayman, Cayman Islands)
  • Green Solar (7.0 MWp, Estanzuela, Guatemala)
  • Donoe Solar (6.4 MWp, St. Thomas, U.S. Virgin Islands)

Each facility operates under long-term power purchase agreements (PPAs) with local utilities, ensuring stable energy provision in their respective regions, BMR said

These projects will be integrated into InterEnergy’s significant portfolio and will benefit from the resources of a larger operating organization. InterEnergy owns and operates more than 2.4 GW of capacity across various subsidiaries in key countries such as the Dominican Republic, Panama, Jamaica, Chile, and Uruguay, while expanding its portfolio with three additional countries.

Renewed Focus

Looking ahead, BMR plans to prioritize its development pipeline, which includes advanced- stage projects in the Cayman Islands, Jamaica, the Dominican Republic, and the US.

____________________

By Editors at Energy Analytics Institute. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.

ENERGY ANALYTICS INSTITUTE (EAI) https://energy-analytics-institute.org

Energy Analytics Institute (EAI), formerly LatinPetroleum.com, is a Houston-established private organization with a satellite presence in Calgary, Mexico City and Venezuela where it operates under Editores LatinPetroleum SA. Since 1999, EAI has been a leader in energy news coverage of Latin America in particular. Coverage, run out of Latin America, now spans the world and encompasses nearly all energy and energy-related sectors.

You May Also Like

More From Author