Virgin is in the process of buying BMR Energy, which develops and invests in projects in the Caribbean and Latin America, it confirmed to Recharge.
A statement from Branson said: “We need to continue to find new ways to power our planet and that’s why I’m delighted to be investing in BMR Energy. I have long believed this is an important sector and something I’m very passionate about.
“The potential for renewable energy across the world is huge, especially here in the Caribbean where we benefit from an abundant supply of sun and wind. I’m delighted to be backing a world class team with a proven track record of success.”
Virgin has not disclosed the size of its investment in privately-held BMR Energy, which is led by CEO Bruce Levy, a former boss of the North American IPP business of International Power and finance chief for utility GPU.
Branson's group said it will release more details concerning the acquisition once it is complete.
Virgin’s move co-incides with the commissioning of regional unit BMR Jamaica Wind’s 36MW project 90km from Kingston, said to be the country’s largest private sector renewables development to date, which uses 11 3MW Vestas turbines.
The acquisition of BMR Jamaica represents Virgin's first wind farm deal.
“I decided recently that we needed to get one or two core (clean energy) companies under our belt so that we can actually get out there and speed up this revolution,” Branson told the Jamaica Observer.
Branson, who lives in the Caribbean, is the UK’s best-known entrepreneur with a global business empire under the Virgin brand name.
He was a prominent supporter of plans to mobilise funds for clean energy at the COP 21 climate summit in Paris last year.
Virgin's previous clean energy investments include M-Kopa, a venture in East Africa promoting affordable access to solar.
