NEW YORK--(BUSINESS WIRE)--BMR Energy, a developer, owner and operator of clean energy projects in the Caribbean and Latin America, announced today its acquisition of a 5 MW (AC) solar plant in the Cayman Islands from Entropy Cayman Solar I. The Virgin Group company will take over all operations of the country’s only utility-scale solar project and the power purchase agreement with the local utility, Caribbean Utilities Company, Ltd. (CUC).
The Bodden Town Solar Farm includes a total of 21,690 photovoltaic panels and has been operational since July 2017. The facility is sited on a former rock quarry, recovering this location to generate clean, renewable energy without impacting undisturbed areas on the island. All power generated by the Bodden Town Solar Farm will contribute to the grid’s peak load of about 110 MW and provide power to more than 800 homes.
“We are pleased to establish operations in the Cayman Islands and contribute to its transition to renewable energy,” said Bruce Levy, CEO of BMR Energy. “Our team is looking forward to driving facility operations to boost efficiency to deliver as much clean energy as we can for the community and look forward to expanding our Cayman operations in the future.”
BMR is working closely with CUC to provide reliable renewable energy to end users supporting the Cayman Islands’ national target of supplying 70 percent of electricity from renewable sources by 2037. As an island vulnerable to climate change, the Cayman Islands are also part of the Paris Agreement and have signed a mandate to make the transition to renewables.
“The Bodden Town Solar Farm, the first utility-scale partnership for CUC, has provided our customers with clean energy since 2017,” said Sacha Tibbetts, Vice President Customer Services & Technology for CUC. “We look forward to working together with BMR Energy on the continued operation of the Solar Farm. CUC’s aim is to have 25 percent of energy on the grid come from renewable energy sources by 2025 and to meet the objectives and targets of the National Energy Policy over the longer term.”
This announcement builds on momentum from a successful year for BMR Energy. Throughout 2018, BMR Energy, a Virgin Group company, continued to work towards Richard Branson’s goal of accelerating renewable energy adoption and building a cleaner, more resilient energy future for the Caribbean and Latin America. BMR dedicated much of the last year restoring existing solar projects that endured damage during the 2017 hurricane season and exploring new promising markets for renewable energy in the region. BMR currently has projects in the U.S. Virgin Islands, Guatemala, Jamaica and now the Cayman Islands.
The company’s 4 MW (AC) Spanish Town St. Croix solar facility, a hurricane-damaged solar project acquired in June 2018, has experienced strong operations since BMR repaired the facility and brought it back online on November 8, 2018.
The company’s 36 MW Jamaica Wind Project also achieved record-breaking generation in terms of both availability and output. High winds and successful day-to-day operations allowed the wind farm to exceed BMR’s annual projections for 2018 by more than 10 percent.
BMR Energy is actively working on the development of additional projects throughout the Caribbean and Central America. The company expects to see increased activity during 2019 as more countries begin to implement their renewable energy programs.
About BMR Energy
BMR Energy, a Virgin Group investment, is a developer, owner and operator of clean energy projects in the Caribbean and Latin America. BMR Energy’s solution-minded team brings its industry expertise to efficiently executing projects that deliver affordable, sustainable energy generation. For more information, visit www.bmrenergy.com.
About Virgin Group
Virgin is a leading international investment group and one of the world's most recognized and respected brands. Conceived in 1970 by Sir Richard Branson, the Virgin Group has gone on to grow successful businesses in sectors including mobile telephony, travel & transportation, financial services, leisure & entertainment and health & wellness.
Caribbean Utilities Company, Ltd., known locally as “CUC”, commenced operations as the only electric utility in Grand Cayman on May 10, 1966. The Company currently has an installed generating capacity of 161 megawatts (“MW”). The record peak load of 105.6 MW was experienced on August 29, 2017. CUC is committed to providing a safe and reliable supply of electricity to over 29,000 customers. The Company has been through many challenging and exciting periods but has kept pace with Grand Cayman’s development for over the past 50 years.