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Greenbriar Executes Cooperation Agreement with China Machinery Engineering Corporation to Build the Large Montalva Solar Facility
Coquitlam, British Columbia--(Newsfile Corp. - April 7, 2020) - Greenbriar Capital Corp (TSXV:...
About this update from Greenbriar Sustainable Living Inc
[{"type":"text","content":"Greenbriar Executes Cooperation Agreement with China Machinery Engineering Corporation to Build the Large Montalva Solar FacilityCoquitlam, British Columbia--(Newsfile Corp. - April 7, 2020) - Greenbriar Capital Corp (TSXV: GRB) (OTC: GEBRF) (\"Greenbriar\") is pleased to announce that it has signed a fully executed Cooperation Agreement with China Machinery Engineering Corporation (\"CMEC\") of Beijing, China to be the Engineering, Procurement and Construction (\"EPC\") company to design, build, equip and construct the 80MW to 160 MW AC Montalva Solar project in Puerto Rico. Greenbriar Capital CorpCannot view this image? Visit:https://orders.newsfilecorp.com/files/5069/54190_c31a8767a46248ea_002.jpgChina Machinery Engineering CorporationCannot view this image? Visit:https://orders.newsfilecorp.com/files/5069/54190_c31a8767a46248ea_001full.jpgAfter two massive hurricanes in 2017 and a crushing 6.4 magnitude earthquake on January 6, 2020 which destroyed the 990 MW Costa Sur power plant, Puerto Rico is acutely short of long term stable power generation. Finally, the value of our solar project has been recognized as a major solution to the long term energy needs of the Island, offering green, reliable, affordable and safe energy that further offers energy independence to the rate payers of Puerto Rico. A congressional report in 2017 discovered that the local utility over-paid $18 Billion of crude oil purchases from 2003 to 2017. The Montalva project offers an exit from this dangerous cycle of expensive and toxic generation of electricity from burning expensive imported crude oil. China Machinery Engineering Corporation (CMEC) is a leading world class and premier construction and engineering company, forming one part of the USD $40 Billion dollar China National Machinery Industry Corporation (Sinomach) group of companies.The specialization of CMEC is the construction of power projects in generation, transmission, and distribution and with its parent company is considered the 3rd largest in the world.The company is also present in Turkey with representative offices in Istanbul and Ankara. CMEC has operated in Turkey since the mid-1980s and operations in the country accounted for a total value of projects in Turkey amounting to USD $3 Billion dollars. Moving into investment, the CMEC announced in 2013 the creation of an investment fun...