Virgin Group acquires BMR Jamaica Wind Limited
British billionaire Sir Richard Branson, through the Virgin Group, has acquire Blue Mountain Renewables (BMR) Jamaica Wind Limited, a company established to develop the 36 MW St. Elizabeth Parish wind generation project.
The deal has been announced during the project's inauguration event. BMR Jamaica Wind Ltd. will operate and maintain the new facility located about 90 km west of Kingston. This is be the largest renewable energy project developed by the private sector in Jamaica.
The wind farm will sell electricity to the private electrical utility, Jamaica Public Service Company (JPS), under a 20-year power purchase agreement (PPA). On September 18 BMR Energy executed the PPA with JPS.
According to sources, Minister of Science, Energy and Technology, Dr. Andrew Wheatley, stated:
“The signal this has sent is that we are open for business here in Jamaica. These are the kinds of investments that can lead to even bigger and better things and which our country needs in our drive for economic prosperity and a sustainable future."
Minister of Finance and the Public Service, Hon. Audley Shaw commented:
“This is a win-win for everyone. Sir Richard is a friend of Jamaica and the wider Caribbean and someone with a proven track record of success."
Country news
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