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Bullboard - Stock Discussion Forum Greenbriar Sustainable Living Inc V.GRB

Alternate Symbol(s):  GEBRF

Greenbriar Sustainable Living Inc. is a developer of sustainable entry-level housing and renewable energy projects. The Company’s primary business is the acquisition, management, development, and possible sale of real estate and renewable energy projects. It operates through three segments: real estate development in the United States (Real Estate), solar energy projects in Puerto Rico (Solar... see more

TSXV:GRB - Post Discussion

Greenbriar Sustainable Living Inc > Finger Pointing and Denials as the Media Smells Someting Fis
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Post by Schoen on Mar 12, 2021 4:39pm

Finger Pointing and Denials as the Media Smells Someting Fis

Teaser from this morning's most recent article in El Nuevo Dia.  This is the part not hidden behind the pay wall.  Seems like the decision-makers continue to scramble to shift the blame.  Hopefully, this ramps up the pressure to approve all the legacy projects right away.

PREPA holds the FOMB responsible for the cancellation of renewables
 
3/12/21 El Nuevo Dia
by Joanisabel Gonzalez

The negotiation promoted by the FOMB resulted in the selection of projects that do not have permits to generate the approved capacity
  
Imagine that you have been working on your dream project for many years. You have obtained financial support and permits, a process that has taken almost 10 years. And, just when you believe you can start operating, they close you down.
 
That is basically what has happened and according to the director of the Office of Project Management of the Electric Power Authority (PREPA), Fernando Padilla , the FOMB is the entity responsible for the recent cancellation of 14 projects of renewable energy that were in negotiations for more than two years.
 
"We understood that these projects followed the cost components required to execute them, but the FOMB decided that we were not in compliance due to the price (of the kilowatt hour or kWh)," said Padilla, referring to the 16 projects that were in negotiations since 2018, that would have added some 593MV of renewable energy to the system.
 
Padilla spoke with El Nuevo Dia as a result of the uproar caused by the selection of X-Zerta and CIRO by PREPA and the FOMB as the only two renewable energy projects that will continue.
 
In an interview with Joanisabel Gonzlez , Padilla explains how PREPA selected both companies , even though they don’t have the permits required to produce the power that they promised right away.
Comment by Schoen on Mar 12, 2021 4:44pm
Corrected Subject of prior post: Fingerpointing and Denials as the Media Smells Something Fishy
Comment by whoami2u on Mar 12, 2021 5:09pm
Whoa....wait.... Xzerta and Ciro don't have permits??? "Padilla explains how PREPA selected both companies , even though they don’t have the permits required to produce the power that they promised right away." What the hell?? I'd love to hear Jeff's take on what's going on here and why they don't have the proper permits.
Comment by Finalrep on Mar 12, 2021 5:43pm
No permits. But Jeff didn't submitted price change in time?  That doesn't seem consistent. I hope all the other projects are banding together to take down whatever is going on. I think there is so much corruption that 593 approval is the only option without exposing it.
Comment by doctordoctor on Mar 12, 2021 5:47pm
I did a quick search concerning corruption in Puerto Rico and came across the following article dated Feb 25, 2020 in which the author calls it "one of the most corrupt places on earth."  article here: https://www.societyandspace.org/articles/one-of-the-most-corrupt-places-on-earth-colonialism-anti-corruption-and-the-puerto-rican-summer-of-2019
Comment by Fendacor on Mar 12, 2021 5:48pm
I think the reason why they got approved without permits is pretty clear. Clear to see the intentions on the FOMB.
Comment by Hubbie87 on Mar 12, 2021 6:21pm
I believe GRB lowering of price came in before Xzerta's.
Comment by Schoen on Mar 12, 2021 10:10pm
If i remember correctly, I think Jeff said in an earlier post that one of the two projects chosen was inexplicably approved at a much higher MW number than they had applied for and gotten permits for.  It seemed like the bureaucrats said this was driven by the need to come in exactly at the 150 MW the FOMB would allow.  But that project only had the permits and agreements in hand for the ...more