#USA #New York #Renewable Energy #BMR Energy #InterEnergy Group

BMR Energy Completes Strategic Transition

BMR Energy LLC has successfully completed its reorganization and divestiture plan, a transformative step aimed at focusing its efforts on the development of renewable energy. This marked change was finalized with the sale of its British Virgin Islands affiliate and five operating renewable projects to InterEnergy Group Limited.

The divestiture signals a strategic pivot for BMR as it aims to concentrate on its core mission of progressing renewable energy initiatives in the Caribbean and select regions of the U.S. Under the comprehensive management of Bruce Levy, President of BMR Energy, the company is poised to enhance its impact on clean energy solutions.

Key Transactions

The notable transactions include:

• - Jamaica Wind: A 36.3 MW facility located in St. Elizabeth, Jamaica.
• - Spanish Town Solar: A 5 MW solar generating facility situated in St. Croix, U.S. Virgin Islands.
• - Bodden Town Solar: Another notable project of 6.5 MW located in Grand Cayman, Cayman Islands.
• - Green Solar: A 7 MW facility in Estanzuela, Guatemala.
• - Donoe Solar: A solar project with a capacity of 6.4 MW in St. Thomas, U.S. Virgin Islands.

All properties are secured by long-term Power Purchase Agreements (PPAs) with local utility companies, ensuring reliable energy supply in their respective areas. Following these changes, BMR is now ready to embark on a more streamlined operational path, successfully returning capital investments to shareholders since its establishment in 2013.

Sustainable Commitment

Emphasizing sustainability, BMR Energy has committed itself to the urgent need for renewable solutions that optimize costs and combat climate change. The company initiated its reorganization in late 2023, aiming to refine its operational focus and improve liquidity for its investors. In June 2024, BMR marked a pivotal achievement by selling the Valle Escondido Solar Generating facility in Costa Rica to local stakeholders, further enhancing its financial footing.

BMR is actively seeking new equity investors who will support future projects as they move toward financing. With a diverse energy portfolio now being integrated into InterEnergy’s larger operations, BMR aims to tap into significant resources to advance its development pipeline. This pipeline presently encompasses multiple high-potential projects positioned in critical markets such as the Cayman Islands, Jamaica, the Dominican Republic, and the U.S.

Looking Ahead

As BMR Energy sets its sights on future endeavors, its leadership is invigorated by the potential of renewable projects to contribute positively to the environment and local economies. Bruce Levy articulated that energy markets are ripe for innovation and growth, stating, “BMR is dedicated to advancing our pipeline and delivering impactful projects over the coming years.”

With a commendable track record of deploying nearly 70 MW of clean energy capacity across the Caribbean and Central America, BMR Energy epitomizes the growing trends toward sustainable energy solutions. As the company rekindles focus on its mission, it stands ready to make significant contributions within the evolving landscape of the energy sector.

For more information about BMR Energy and its projects, please visit www.bmrenergy.com.