November 18, 2021 – Coquitlam, BC – Greenbriar Capital Corp. (“Greenbriar”) is joyful to announce that it has executed an settlement for prolonged-time period photo voltaic power current with West Lake Energy Corp (“West Lake”), A quantity one privately personaled indepfinishent Canadian oil and gasoline producer based mostly in Calgary, Alberta. Beneath the settlement’s time durations Greenbriar will construct, personal and opperiodte 90MWac of photo voltaic power manufacturing with The primary photo voltaic website having a performance for 30MWac. West Lake agrees To buy all Solar power genperiodted from the enterprise and has The selection To buy from the second website Which might current the reprimarying 60MWac. West Lake intfinishs To Wind up to be A pacesetter Contained in the Canadian oil and gasoline enterprise by being Definitely one of many first pure upstream oil and gasoline producers taking The numerous step in the direction of carbon neutrality. As An factor of this objective, West Lake is working in the direction of having A great portion of its Electricity wants met by way of clear power.
“This relationship recurrents A very thrilling step for West Lake, says Bruce McDonald, CEO of West Lake. Collectively with offering a safe, low-value power current for our opperiodtions and carbon credit from the enterprise, our settlement creates A strong partnership with Greenbriar, levperiodging their expertise Inside the renewable sector in North America and offering a mannequin for future renewable tasks. We intfinish to bolster participation in renewable power sources as An factor of our journey in the direction of carbon neutrality, turning Proper into a pacesetter Inside the renewable power transition.”
Greenbriar and West Lake have agreed to a framework to work together in future photo voltaic manufacturing amenities. With the objective Of accelperiodting performance to 400MW over The subsequent a quantity of yrs, The two corporations intfinish on being the premier photo voltaic power supplier to completely different indepfinishent upstream oil and gasoline producers who Do not have the performance and expertise To assemble and personal Their very personal renewable power amenities Greenbriar’s award-worthwhile and expertised administration, board and advisory group, has assembleed, financed, personaled or opperiodted over 50,000 MW of renewable power amenities totaling over US $180 Billion of capital expfinishitures.
The enterpriseions for 90MWac of photo voltaic power period amenities ought to have an approximate 10-yr annual levelized EBITDA of CDN $19,500,000 and a CAPEX Of roughly CDN $105 to $120 Million. CAPEX will differ topic to modifications in gear, interconnection and enhancement prices. Greenbriar has engaged Nu-E Corp. for The enhancement of the photo voltaic power amenities. Nu-E is a conagencyed chief Inside the renewable power enhancement enterprise.
Jeff Ciachurski, the CEO of Greenbriar states: “We’re excited Regarding the management and imaginative and prescient from West Lake Energy Corp. To be An factor of A primary-class upstream oil and gasoline producer’s primary power wants and assist them Inside their transition to carbon neutrality, speaks volumes to their exemplary management for the environment, social practises and …….