InterEnergy Group buys renewable energy portfolio for US$122 million
INTERENERGY GROUP, parent company of Jamaica Energy Partners, has acquired 61.2 megawatts of renewable energy assets in the Caribbean and Central America. The acquisition, which includes one wind farm and four solar parks, is valued at US$122 million.
The acquisition includes the British Virgin Islands subsidiary of BMR Energy Limited, along with its operating assets. The deal adds 36.3 megawatts of wind capacity in Jamaica and 25 megawatts-peak of solar capacity across Guatemala, the US Virgin Islands, and the Cayman Islands to InterEnergy’s portfolio.
“This expansion brings us closer to achieving our decarbonisation goals, combining renewable energy with cutting edge storage technology, electric mobility, and natural gas as a transition fuel,” said Rolando González Bunster, chairman and CEO of InterEnergy Group.
In Jamaica, the acquisition includes the 36.3-megawatt BMR Jamaica Wind Farm in St Elizabeth, which has been operational since July 2016. The facility features 11 Vestas V112 turbines. The acquisition adds to InterEnergy’s existing 250 megawatts of thermal energy capacity in Jamaica.
The solar projects acquired include the 7-megawatt-peak SIBO-Green Solar facility in Zacapa, Guatemala; the 5-megawatt-peak Spanish Town Solar project in St Croix, US Virgin Islands; the 6.4-megawatt-peak Donoe Solar project in St Thomas, US Virgin Islands; and the 6.5-megawatt-peak Bodden Town Solar project in the Cayman Islands.
InterEnergy’s newly acquired solar projects operate under long-term power purchase agreements (PPAs) with local distributors, providing operational stability. The acquisition boosts the share of renewable and low-emission energy in InterEnergy’s portfolio to over 80 per cent of its 2.4 gigawatts of operational and under-construction projects across Latin America and the Caribbean.
InterEnergy’s renewable assets are located in key markets including the Dominican Republic, Panama, Chile, Uruguay, and Jamaica. The company has invested in various clean energy projects, including the 215-megawatt Laudato Si’ Wind Farm in Panama and electric vehicle charging networks.
