(Bloomberg) — American Capital Ltd.’s BMR Energy unit
closed $62.7 million in loans to develop a 36-megawatt wind
project in Jamaica.
The financing includes $42.7 million in senior loans from
the Overseas Private Investment Corp., a $10 million senior loan
from the International Finance Corp. and $10 million from the
IFC-Canada Climate Change Program, according to a statement
Monday from Bethesda, Maryland-based American Capital.
In addition to the loans, BMR Energy will use a $26.9
million equity investment from American Capital to build the
wind farm, which will use Vestas Wind Systems A/S turbines.
Construction is expected to begin this quarter and be finished
early next year.
Electricity from the wind farm will be sold to Jamaica
Public Service Co. under a 20-year contract.
To contact the reporter on this story:
Justin Doom in New York at
To contact the editors responsible for this story:
Reed Landberg at
Carlos Caminada, Will Wade