American Capital establishes BMR Energy

The PE firm, through an affiliate, has set up a new company focusing on energy infrastructure in Central America and the Caribbean.

American Capital Energy & Infrastructure (ACEI), an affiliate of private equity firm American Capital, has partnered with a veteran management team to create BMR Energy, a company focusing on developing and investing in power and energy-related infrastructure in Central America and the Caribbean, the Maryland-based firm said in a statement.

ACEI is also committing $25 million to BMR’s first project, a 34-megawatt (MW) wind farm in Jamaica. In September 2013, Jamaica’s Office of Utility Regulation awarded BMR a contract to build, own and operate the wind project, which is expected to be operational in 2015. BMR also has other projects in the pipeline ACEI said, but did not provide details.

“There is a tremendous opportunity for renewable and efficient fossil fueled generation and gas infrastructure to displace expensive oil-fired power plants in Jamaica, as well as throughout the Caribbean and Central American region,” ACEI’s chief executive and co-founder, Paul Hanrahan said.

The management team with which ACEI has partnered includes Bruce Levy, Andrew Rovito, and Pip Decker, who have over 60 years of collective experience in global energy project development, acquisition, and operations, according to the statement. Levy leads the team as BMR’s chief executive.

Headquartered in Annapolis, Maryland, ACEI invests in energy infrastructure assets in high-growth and developed markets, including power generation facilities, gas and power distribution and transmission networks, energy transportation assets, fuel production opportunities, and product and service companies focused on the power and energy sector. It is part of American Capital’s asset management affiliate, American Capital Asset Management.

American Capital is a publicly-traded private equity firm which originates, underwrites, and manages investments in middle-market private equity, leveraged finance, real estate, energy and infrastructure, and structured products. It manages $20 billion of assets on behalf of its own portfolio companies and third parties.