Vancouver, British Columbia - April 3, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Greenbriar Capital's (TSXV: GRB) $1.9 Billion - one hundred megawatt (100 MW) Montalva solar contract is closer to commercial reality with key congressmen and staff supporting and endorsing our project.
In addition, the US Congress has established the Financial Oversight and Management Board ("FOMB") which recommends and expedites critical energy and infrastructure projects with our 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 our project does not require federal funds to rebuild the power grid. Extensive meetings have been held by our legal team and leadership in Washington DC. 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 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 (6) 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.
ON BEHALF OF THE BOARD OF DIRECTORS
/s/ Jeffrey J. Ciachurski
Jeffrey J. Ciachurski
Chief Executive Officer and Director
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