August 7 (Solar) – Clean energy firm BMR Energy LLC today said it has acquired a 4-MW solar park in the US Virgin Islands (USVI) that sustained significant damage during Hurricane Maria last year.
The company is expects to restore the St. Croix solar photovoltaic (PV) plant to full capacity by October. It said it is also about to receive from the Virgin Islands Water and Power Authority (VI WAPA) the green light to buy another hurricane-damaged solar project in the coming weeks.
The St. Croix park has been operating at less than 45% capacity for almost a year. BMR is acquiring the asset from NRG Energy Inc (NYSE:NRG), including the solar farm’s power purchase agreement (PPA) with VI WAPA. The company has already started repairing damage and replacing inverters. Once the power plant returns to full capacity, it will produce electricity for about 1,600 households.
“This acquisition is an opportunity to show how to build for stronger hurricane resiliency and offer greater value to the region. As the prolonged restoration in these hurricane-devastated areas highlights – with Puerto Rico being the most extreme example – we must remain committed to rebuilding our infrastructure right and successfully maintaining projects through long-term ownership,” said CEO Bruce Levy.
This purchase marks BMR’s entry into the USVI. The company, acquired by Richard Branson’s Virgin Group two year ago, is also active in Jamaica and Guatemala.