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Westbridge Renewable Secures Financing to Complete its Interconnection Deposits for its Alberta Portfolio and Project Development
Westbridge Renewable Secures Financing to Complete its Interconnection Deposits for its Alberta P...
About this update from Westbridge Renewable Energy Corp
[{"type":"text","content":"\n \n \n \n Westbridge Renewable Secures Financing to Complete its Interconnection Deposits for its Alberta Portfolio and Project Development\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 May 31, 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 secured financing to fund its Alberta Electric System Operator (\"AESO\") contribution requirement for its pipeline of projects in\n \n Alberta\n \n under development by its subsidiaries: Georgetown Solar Inc., Sunnynook Solar Energy Inc., Dolcy Solar Inc., Eastervale Solar Inc., and Red Willow Solar Inc. (the \"Projects\") and to fund development of the Projects and further origination of solar energy and battery energy storage system projects.\n \n \n \n \n \n \n \n \n \n Pursuant to a loan agreement (the \"Loan Agreement\") dated\n \n May 30, 2023\n \n , between Westbridge Renewable Energy Holdco Corp. (a wholly-owned subsidiary of the Company), as borrower (the \"Holdco Borrower\"), and LRC Westbridge II Investco, LLC\n \n (a lending entity established by Leyline Renewable Capital, LLC)\n \n , as lender, the Holdco Borrower may borrow up to a maximum of the U.S. dollar equivalent of\n \n CAD$30,450\n \n ,000 (the \"Loan\"). The Loan can be used to post Generating Unit Owners Contribution (\"GUOC\") security payments for the Projects.\n \n \n In addition, the Company and LRC Westbridge III, Investco, LLC\n \n (a lending entity established by Leyline Renew...