Harneys advises BMR Energy on acquisition of Guatemalan solar energy and renewables group

Harneys has advised BMR Energy, a Virgin Group investment that develops, owns and operates clean energy projects in the Caribbean and Latin America, on its acquisition of Sibo S.A., a Guatemalan solar energy group. Assets of Sibo include a 7 MWp Green Solar array in Guatemala.

The deal follows on from the acquisition of BMR Energy by the Virgin Group in December 2016 where Harneys advised Virgin on its majority acquisition of BMR Energy from NASDAQ-listed private equity firm American Capital.

The acquisition is part of a drive towards clean energy by the Virgin Group, which is owned by Sir Richard Branson. BMR Energy is also currently involved in the development of additional renewable energy projects throughout the Caribbean and Latin America, including Jamaica, the Dominican Republic, the Virgin Islands, St. Kitts, Honduras, Costa Rica, Colombia and Mexico.

Harneys Senior Associate Fergal McLoughlin advised on matters of BVI law alongside a cross-jurisdictional team including Akin Gump (Los Angeles), BNP Paribas (New York), Gonzalez Campo & Toriello (Guatemala), ANLEU & Asociados (Guatemala), Fabrega Molino (Panama) and Anzola Robles & Associates (Panama).