Project in St. Croix will begin restoration to full generation capacity, 11 months after damage

BMR Energy, a developer, owner and operator of clean energy projects in the Caribbean and Latin America, announced today its acquisition of a 4-megawatt, fixed ground-mount solar facility from NRG Energy, Inc. in St. Croix that was damaged during Hurricane Maria in September 2017. The company will take over the power purchase agreement and restoration efforts of the St. Croix solar farm, which sustained significant damage during last years hurricane.

"We look to these resiliency-focused projects and our work with BMR Energy as a critical part in our goal to reach 60 percent fossil fuel reduction by 2025."

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Along with the physical damage last years powerful hurricanes inflicted on the Caribbean region, Hurricane Maria also curbed renewable energy supply in the U.S. Virgin Islands (USVI). The St. Croix project has been running at less than 45 percent capacity for nearly a year. The reduced generation of damaged renewable energy facilities puts strain on the utilitys supply planning and ability to meet its clean energy goals.

The rehabilitation of renewable energy projects is part of a larger movement among the private sector, heads of state, public agencies and international institutions to build a cleaner, more resilient energy future for the Caribbean.

Richard Bransons Virgin Group bought BMR Energy in 2016 and works extensively in the region with a network of partners. Alongside Prime Minister of Jamaica Andrew Holness, Richard will be hosting an event on August 9 championing updates on the Caribbean Climate-Smart Accelerator. The Accelerator brings together 26 Caribbean countries and 40 private sector partners representing a region of 1 million square miles and over 40 million people to help transform the regional economy by fast-tracking sound public and private investment that supports climate action and economic growth through sustainable development.

"BMR Energy is an expert in developing clean energy - the team also acts as a long-term partner and is working to make a huge difference in the region," said Richard Branson, founder at Virgin Group. "The world needs to find ways to introduce more resilient clean energy. The Caribbean has an abundance of clean energy sources, and BMR are taking great strides towards helping create zero-carbon energy supplies for years to come."

"Restoring the solar facility in Spanish Town, St. Croix, to full capacity generation is core to our mission of supporting clean energy infrastructure in the Caribbean and Latin America," said Bruce Levy, CEO of BMR Energy. "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." The USVI solar plant represents an entrance into a third market for BMR, which currently has projects operating in two other countries in the Caribbean and Latin America: Jamaica and Guatemala.

BMR is working closely with The Virgin Islands Water and Power Authority (V.I.WAPA), the local utility and power purchaser of the energy generated from the site, on its continued recovery from the effects of the 2017 hurricanes as a new hurricane season begins. A construction manager is already on-site repairing damage and replacing inverters at the St. Croix solar facility. BMRs goals with the restoration process are to get the site restored for the most competitive price and as quickly as possible to accommodate V.I.WAPAs planning needs. BMR is set to receive approval from the utility to purchase another hurricane-damaged USVI solar project in the coming weeks.

"For jurisdictions in the Caribbean looking to meet clean energy goals, building hurricane-resilient renewable energy infrastructure is crucial to long-term success," said Lawrence J. Kupfer, executive director and CEO of V.I.WAPA. "We look to these resiliency-focused projects and our work with BMR Energy as a critical part in our goal to reach 60 percent fossil fuel reduction by 2025."

BMRs restoration efforts have incorporated local labor and several local contracting partners. When restored to its full capacity, the St. Croix solar facility will generate power for approximately 1,600 homes.

BMR Energy expects to restore the St. Croix solar facility to full capacity by October 2018.

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 Energys 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.