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Westbridge Renewable Reaches Definitive Agreements with MYTILINEOS to Monetize 1.4 GW Alberta Solar PV Portfolio
Westbridge Renewable Reaches Definitive Agreements with MYTILINEOS to Monetize 1.4 GW Alberta Sol...
About this update from Westbridge Renewable Energy Corp
[{"type":"text","content":"\n \n \n \n Westbridge Renewable Reaches Definitive Agreements with MYTILINEOS to Monetize 1.4 GW Alberta Solar PV 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.prnml40{\nMARGIN-LEFT:3.33em !IMPORTANT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n June 1, 2023\n \n \n /CNW/ -\n \n Westbridge Renewable Energy Corporation\n \n (TSXV: WEB) (OTCQX: WEGYF)  (FRA: PUQ) (\"\n \n \n Westbridge\n \n \n \", \"\n \n Westbridge Renewable\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has entered into definitive agreements entered into on\n \n June 1\n \n \n st\n \n 2023 in connection with the purchase by Metka-EGN Ltd. (\"\n \n Metka\n \n \") (a subsidiary of MYTILINEOS Energy & Metals (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) (\"\n \n MYTILINEOS\n \n \")) of a portfolio of 5 solar projects located in\n \n Alberta, Canada\n \n (the \"\n \n Projects\n \n \"), from\n \n Westbridge\n \n , with anticipated aggregate capacity of 1,410 MWdc (1.4 GW) upon commercial operation  (the \"\n \n Transaction\n \n \").\n \n \n \n \n \n \n \n \n \n The Transaction is to be completed by way of a share purchase by Metka of all of the issued and outstanding shares of the following subsidiaries of\n \n Westbridge\n \n : Georgetown Solar Inc. (\"\n \n \n Georgetown\n \n \n \"), Sunnynook Solar Energy Inc. (\"\n \n Sunnynook\n \n \"), Dolcy Solar Inc. (\"\n \n Dolcy\n \n \"), Eastervale Solar Inc. (\"\n \n Eastervale\n \n \"), and Red Willow Solar Inc. (\"\n \n \n Red Willow\n \n \n \"), (collectively, the \"\n \n SPVs\n \n \").\n \n Westbridge\n \n will retain ownership of the SPVs and continue to lead the development of the Projects until closing, which is subject to certain conditions, including regulatory approvals.\n \n \n \n The Projects\n \n \n \n The Projects under development by each of the SPVs are comprised of the following:\n \n \n \n \n Georgetown\n \n – Solar power plant with a capacity of up to 230MWac (278MWdc), located in Vulcan County,\n \n Alberta\n \n ;\n \n \n Sunnynook – Sol...