Greenbriar, West Lake unveil 400-MW solar project cooperation in Canada

Nov 17, 2021 04:50 PM ET
  • Greenbriar Capital Corp (CVE: GRB) will develop 90 MW of solar parks in Canada's Alberta province to serve domestic oil as well as gas producer West Lake Energy Corp as part of a wider project framework for 400 MW of capacity.
Greenbriar, West Lake unveil 400-MW solar project cooperation in Canada
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The duo has authorized a binding agreement that requires Greenbriar to develop, have and also operate the photovoltaic (PV) parks, beginning with a 30-MW plant. West Lake, on the other hand, will procure the electrical power from the first 30-MW portion and will also have the option to get the outcome of the project's 2nd phase that will certainly add the continuing to be 60 MW.

According to Greenbriar's quotes, the capital expenditure needed for the 90-MW initiative will stand between CAD 105 million (USD 83.7 m/EUR 73.9 m) and CAD 120 million. The plan is expected to bring 10-year levelised profits before passion, tax obligation, devaluation as well as amortisation (EBITDA) of around CAD 19.5 million.

Building firm Nu-E Corp has actually been employed to build the plants.

Greenbriar as well as Calgary, Alberta-based West Lake have actually agreed to a wider effort that will see them team up on even more projects and also potentially provide renewable power to upstream oil and gas producers without the capabilities of building their own plants. The partners' goal is to get to 400 MW of installed capacity in the following few years.

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