- Greenbriar Capital Corp. (GRB) has partnered with Ridge Utilities Ltd. to support the development of micro-generation capacity for numerous commercial and agricultural sites across southern Alberta
- Through this partnership, Ridge Utilities will provide retail customers with access to preferential energy pricing through its Solar Club
- Greenbriar will design, finance, build, own and operate the multiple micro-generation facilities and maintain and manage the operation for at least 20 years
- Financing will be done at the project level and will be non-dilutive to Greenbriar Shareholders
- Greenbriar Capital Corp. is up 8.59 per cent to C$2.78 per share
Greenbriar Capital Corp. (GRB) has partnered with Ridge Utilities Ltd. to support the development of micro-generation capacity for numerous commercial and agricultural sites across southern Alberta.
Through this partnership, Ridge Utilities will provide retail customers with access to preferential energy pricing through its Solar Club.
Greenbriar will design, finance, build, own and operate the multiple micro-generation facilities and maintain and manage the operation for at least 20 years.
Greenbriar and its stakeholders will finance up to the first CDN $120 million of new solar facilities and is prepared to extend the commitment up to a further $500 million.
Financing will be done at the project level and will be non-dilutive to Greenbriar Shareholders. The Greenbriar leadership team and its advisors have financed and built over 50,000MW of new solar projects in previous companies since 2003.
Ridge Utilities offers exclusive solar club electricity rates for micro-generators who are on a bi-directional cumulative meter. Solar Club members can switch between these two rates at any time with just 10 days notice, penalty free to accommodate seasonal generation fluctuations.
In 2016, Alberta’s micro-generation regulation was amended to provide more flexibility for rules on how Albertans can generate electricity. Changes include increasing the size limit of each micro-generation system to five megawatts from one megawatt and allowing a micro-generating system to serve adjacent sites.
Greenbriar will manage the solar partnership and operations in Alberta, through its executive leader Devon Sandford and supported by a special group within the Greenbriar Board – namely Bill Sutherland, P.Eng, MBA, Clifford M. Webb, P.E and Jeff Ciachurski.
Greenbriar Capital Corp. is up 8.59 per cent to C$2.78 per share at 1:04pm EST.
