"Greenbriar Capital Corp ("Greenbriar") 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 80MW to 160MW 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 4-5 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 CDN $200 Million facility. CMEC is part of the USD $40 Billion Sinomach Group of Companies, and is world renown in building large scale high quality energy projects.
About Greenbriar Capital Corp
Greenbriar is a leading developer of renewable energy and sustainable real estate. With long-term, high impact, contracted sales agreements in key project locations and led by a successful, industry-recognized operating and development team, Greenbriar targets deep valued assets directed at accretive shareholder value. Greenbriar and its advisors have closed over $180 Billion in renewable energy projects since 2003.
ON BEHALF OF THE BOARD OF DIRECTORS
"Jeff Ciachurski"
Jeffrey J. Ciachurski
Chief Executive Officer and Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release may contain forward-looking statements. All statements, other than statements of historical fact, constitute "forward-looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance.
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