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Westbridge Renewable Energy Provides Update on International Solar and Battery Storage Portfolio
Westbridge Renewable Energy Provides Update on International Solar and Battery Storage Portfolio ...
About this update from Westbridge Renewable Energy Corp
[{"type":"text","content":"\n\n\n\n Westbridge Renewable Energy Provides Update on International Solar and Battery Storage Portfolio\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 \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n Feb. 5, 2025\n \n\n /CNW/ -\n \n Westbridge Renewable Energy Corp.\n \n (TSXV: WEB) (OTCQX: WEGYF) (FRA: PUQ)\n \n (\"Westbridge\", \"Westbridge Renewable\" or the \"Company\")\n \n is pleased to provide its shareholders with an update of its development portfolio.\n \n\n\n\n\n\n\n\n\n The Company is delighted to provide Investors a comprehensive update on its international portfolio of utility scale projects.\n \n\n Fiscal year 2024 was our first year realizing gains from our large maturing portfolio with the sale of the Alberta Georgetown and Sunnynook projects as previously announced on\n \n\n\n November 5, 2024\n \n\n\n and\n \n\n\n December 14, 2023\n \n .\n \n\n These two projects added more than\n \n $62 million\n \n of non-dilutive cash to our balance sheet.\n \n\n In the three years since the RTO, we have surpassed many of our strategic milestones and remain fully committed to our mission of delivering utility scale solar and battery storage projects, with exceptional returns on capital invested.\n \n\n\n Highlights:\n \n\n\n\n 30x portfolio growth to >9GW under development\n \n\n Sold 2 projects totalling more than 600 MW of solar and 400 MWh of potential BESS\n \n\n\n $62 million\n \n of non-dilutive cash added to our balance sheet\n \n\n Project Dolcy received AUC approval, continuing our impressive approval track record\n \n\n Repaid over\n \n $35m\n \n of debt, positioning our balance sheet for future growth\n \n\n\n $10m\n \n of capital returned to shareholders, equivalent to 12% yield\n \n\n\n\n Westbridge\n \n continues to represent a unique value proposition as a listed renewables developer and capital allocator operating within the utility scale renewable energy space.\n \n\n\n Portfolio Update\n \n\n\n The Company announced definitive agreements to sell five\n \n Alberta\n \n based, utility-scale Solar PV and BESS projects total...