News
Greenbriar receives congressional support for Montalva
2018-04-03 00:42 ET - News Release
Mr. Jeffrey Ciachurski reports
GREENBRIAR CAPITAL RECEIVES KEY CONGRESSIONAL SUPPORT FOR OUR 100 MEGAWATT MONTALVA SOLAR PROJECT
Greenbriar Capital Corp.'s $1.9-billion 100-megawatt Montalva solar contract is closer to commercial reality with key congressmen and staff supporting and endorsing the project.
In addition, the U.S. Congress has established the financial oversight and management board (FOMB), which recommends and expedites critical energy and infrastructure projects with the company's project being noted as a "project that should be considered a candidate for selection as a critical project." This consideration as a critical project is to assist the rebuilding and modernization of the antiquated energy grid needed to rebuild the economy of the Commonwealth.
Greenbriar has been working through its congressional legal team to advise key members in Congress that its project does not require federal funds to rebuild the power grid. Extensive meetings have been held by the company's legal team and leadership in Washington. The meetings confirm the legitimacy of Greenbriar Capital's effort, and further, the government is taking the seriousness of the delay, affirming that Greenbriar is in a position for a timely approval process for a project needed to rebuild the infrastructure and add the essential renewable energy generation it so badly needs. It also suggests that senior decision makers are watching this project, making sure it gets the correct and proper treatment.
Greenbriar and its predecessor Western Wind Energy Corp. have been on the island for 10 years, long before the credit or weather crisis, and has owned this $1.9-billion contract for six years. When built at a cost of $360-million from project level financing, Montalva will add over $12-million per year to the tax base, create over 1,100 construction jobs and add over $300-million in capital for new energy assets. In addition, it will save the rate payers over $35-million per year, and provide $58-million in annual revenue to Greenbriar, without dilution to its share capital.
About Greenbriar Capital Corp.
A leading developer of renewable energy, sustainable real estate and smart energy products, Greenbriar owns long-term, high-impact, contracted sales agreements in key project locations and is led by a successful industry-recognized operating and development team that targets deep-valued assets directed at accretive shareholder value.
We seek Safe Harbor.