Greenbriar enters power purchase agreement with PREPA
2020-05-19 15:42 ET - News Release
Mr. Jeffrey Ciachurski reports
GREENBRIAR CAPITAL CORP REACHES COMMERCIAL AGREEMENT WITH THE PUERTO RICO ELECTRIC POWER AUTHORITY
Greenbriar Capital Corp.'s legal counsel in Washington, D.C., has released a statement.
Luis Baco, JD, LLM, stated: "Greenbriar Capital Corp. is pleased to announce that it has reached agreement with the Puerto Rico Electric Power Authority (PREPA) on a 25-year power purchase and operating agreement (PPOA) for the development, construction and operation of the 80-megawatt-to-160-megawatt AC Montalva solar project. The Montalva PPOA now moves on to final approval by the Puerto Rico Energy Bureau (PREB) and the Puerto Rico Financial Oversight and Management Board (FOMB). This process is expected to last four to five weeks. We are very pleased with this outcome and are eager and ready to get started on building this great and long-overdue project that will help transform the island's energy sector and bring about great savings to the people of Puerto Rico. Once built to full capacity, the Montalva solar project will become the largest solar energy facilities in the whole Caribbean region."
Greenbriar is proudly working together with CMEC of Beijing to design, build and construct this $200-million facility. CMEC is part of the $40-billion (U.S.) Sinomach group of companies and is world renown in building large-scale, high-quality energy projects.
About Greenbriar Capital Corp.
Greenbriar Capital is a leading developer of renewable energy and sustainable real estate. Greenbriar and its advisers have closed over $180-billion in renewable energy projects since 2003.
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