The project is located in the municipality of Bagaces, province of Guanacaste, Costa Rica and is the company’s newest solar PV project. The Virgin Group company will own and operate the long-planned project to provide up to 5 MW to the Costa Rican Electricity Institute (ICE) under a 20-year Power Purchase Agreement.
BMR assumed control of the Valle Escondido project in late April of 2021. Within days of acquiring the development project, BMR had initiated site activities. The new solar farm will be one of the largest solar generators in Costa Rica and the largest serving ICE. Costa Rica’s energy supply is nearly 98 percent renewable. Until now, however, solar energy provided only a small portion of that energy.
“We are very excited to be operating in Costa Rica, a country that utilises its vast natural resources to demonstrate the capabilities of a fully renewable energy supply” said Bruce Levy, CEO of BMR Energy. “We are also very proud to work alongside a highly reputable utility like ICE in making this project a reality. We believe that our experience constructing and operating renewable energy projects in the region is key to the growth of Costa Rica’s and ICE’s supply of clean energy. By adding our project to ICE’s diverse renewable energy portfolio and bringing solar energy to the people of Costa Rica, we’re continuing our legacy of building resilient, renewable energy infrastructure in the Caribbean and Latin America.”
BMR was able to employ a team of local Costa Rican citizens to complete the transaction and start construction work on the project, minimising the need for travel and avoiding potential COVID-19 related complications. The local team includes engineers, project managers, construction contractors and attorneys, all well versed in solar technologies and project execution. The Valle Escondido solar plant is scheduled to come online in the second half of 2021.
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