Excellent Montalva UpdateI had three long calls with Luis today. The last call ended a few minutes ago.
Amongst Luis speaking several times a day with everyone of any importance in the decision making on our project, be it FOMB, PREPA, PREB, The Governor, The Resident Commissioner, etc., Luis spoke several times today with several PREPA Board Members. They consented for him to also directly inform FOMB that our project is the best project in the PREPA 16 projects. The PREPA Board will also inform the FOMB, Montalva is number one.
On a separate but related note, the PREPA Board will (Zoom) meet with FOMB next Wednesday and argue that 300MW, rather than 150MW should have the 10cent/14cent pricing.
Their argument is the math of the FOMB is not correct in that if 600MW is approved at that price, causes the average price to be 0.5 cents higher by 2049. The materiality is too close to even make that distinction, but regardless, PREPA will win the argument that 0.5 is too close to call going out to 2049, and even 0.3 cents for 300MW is not accurate.
Notwithstanding PREPA will certify Montalva is number one and this whole new delay is only caused by a previously undisclosed PREPA letter on June 11 saying most projects will not get built. PREPA will certainly have to list the 150MW and 300MW of projects that will to the FOMB.
Best
JEFF CIACHURSKI
Chief Executive Officer
Greenbriar Capital Corp
Greenbriar Capital Holdco Inc
Greenbriar Capital (U.S.) LLC
Captiva Verde Land Corp
9 Landport
Newport Beach
California USA
92660
Direct: 949-903-5906
email: westernwind@shaw.ca
www.greenbriarcapitalcorp.ca
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