Greenbriar Capital Corp. has partnered with Atherton Pacific Green (APG) for engineering, procurement, and construction of the 100 MW "Smart Grid" Montalva photovoltaic solar project in Puerto Rico, USA.
Financial close for this project will be subject to the usual and customary due diligence for a solar project of this size as well as third party approvals. CV Brokerage will arrange a conventional project capital structure comprising of senior lenders, tax equity investors and appropriate subordinate mezzanine lenders wherever needed.
Greenbriar will build and own 100% of the project. The annual production is estimated at 240 million kwh per year and about $60 million in annual revenues.
APG will collaborate with Greenbriar by providing industry leading solar, storage, and smart grid technical oversight. In this regard, Jane Wu, CEO of APG with over 20 years of clean tech experience, will be providing technical peer review and expertise necessary for this solar project.
Greenbriar Capital Corp. has engaged CV Brokerage as its corporate financial advisor in connection with the placement of units in the common stock of Greenbriar Capital Corp at various prices beginning at $1.50 per unit. Each unit comprises of one common share and one-half share purchase warrant entitling each full warrant to be convertible into a common share at $1.75 per share for a period of 5 years from the date of issuance.
Jeff Ciachurski, CEO of Greenbriar Capital Corp stated:
"We are delighted to have APG join the project. Montalva is a fully integrated large utility scale (up to 146 Megawatt dc - 100 Megawatt ac) solar photovoltaic project with storage and smart grid solution. The size and sheer output of this project will be the largest in the Caribbean, providing the citizens of Puerto Rico with a source of inexpensive, reliable, and clean renewable energy for decades to come, offsetting expensive and dirty oil based generation that has been plaguing the Island for over half a century."
Jane Wu, commented:
"I am thrilled to be collaborating with Greenbriar on this exciting project. With the best solar irradiation on the Island and available superior technology, the Montalva project is a showcase for both the people of Puerto Rico and the stakeholders of Greenbriar Capital Corp."