Business
Westbridge Provides Update to Shareholders
Westbridge Provides Update to Shareholders Canada NewsWire TORONTO , ...
About this update from Westbridge Renewable Energy Corp
[{"type":"text","content":"\n \n \n \n Westbridge Provides Update to Shareholders\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Dec. 22, 2022\n \n \n /CNW/ -\n \n Westbridge Renewable Energy Corp.\n \n (TSXV: WEB) (OTCQX: WEGYF) (FRA: PUQ) (\"\n \n Westbridge Renewable\n \n \" or the \"\n \n Company\n \n \") is pleased to share an open letter to shareholders from Executive Chairman,\n \n Scott Kelly\n \n and CEO and Director,\n \n Stefano Romanin\n \n .\n \n \n \n \n \n \n \n \n \n Dear Shareholders,\n \n \n 2022 has been a very busy and successful year of growth for your company, Westbridge Renewable Energy Corp. Thank you for your support and confidence.\n \n \n Our solar PV development portfolio expanded from three projects totaling 735 MWp Solar PV at the beginning of fiscal 2022, to six projects totaling 1,285 MWp Solar PV today.\n \n \n Our Battery Storage (\"BESS\") capacity has also grown from 400 MWh at the beginning of fiscal 2022 to more than 1,000 MWh today.\n \n \n This rapid growth was realized through the successful origination of two new utility-scale Solar PV + BESS projects in\n \n Alberta\n \n and one standalone BESS project in the\n \n United Kingdom\n \n . Our development pipeline remains robust in key solar markets, and the macro environment in all three jurisdictions is becoming increasingly favourable for our business.\n \n \n In\n \n November 2022\n \n , the Canadian government announced incentives for clean energy technologies, which will include an investment tax credit for solar PV and energy storage systems equivalent to a refundable tax credit equal to 30% of the cost of capital investment ...