Richard Branson has purchased BMR Jamaica Wind Ltd and its United States-based parent BMR Energy. Priced at US$89.9 million, the project involves 11 3.3 MW wind turbines that will add power to Jamaica’s national grid, sold to the utility at US$0.129 per KWh. Branson, owner of the Virgin Group, said that his decision was not profit driven but rather, motivated by a desire to “speed up the clean energy revolution”. The wind plant in Malvern, St. Elizabeth will enable Jamaica to reduce its reliance on fossil fuels by about US$500 million over the 20-year life of the plant. It will indeed enable the Caribbean island to meet the goal of carbon neutrality by 2050. Branson hopes that his investment will incite other investors to take similar initiative in other countries regionally and globally.
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