Greenbriar is moving ahead to construct the sophisticated 160MWdc/80MWac Montalva solar project in Puerto Rico, which will become the largest solar facility in the Caribbean once completed. Greenbriar is very confident the project will expand to 320MWdc/160MWac in the very near future. A sizeable electro-chemical storage facility as part of the solar field will enable 24/7 dispatch which is unique in ultra-large scale solar generation facilities. Montalva will provide Puerto Rican citizens with lower-cost, clean and reliable electricity and replace some of the current expensive and dirty oil generation.
The company is proudly building the project with the China Machinery Engineering Corporation (CMEC), a leading world class premier construction and engineering company, forming part of the USD $40 Billion China National Machinery Industry Corporation (Sinomach) group of companies.
Greenbriar has been informed by its legal counsel Luis Baco, JD, LLM, that the PREPA Governing Board has approved our project and contract this past Thursday May 28 and the contract has been presented to the US FOMB (US Federal Oversight Management Board) for final approval. In 2018 the US FOMB already recommended Montalva to be deemed a critical project to rebuild Puerto Rico. Montalva will provide over 900 construction jobs, an increased tax base and hundreds of millions of dollars of private funds invested to rebuild a new and resilient electrical grid. Greenbriar is proud of this contribution and its existing 12 year non-stop commitment in Puerto Rico.
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 with previous companies.
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.
Copyright 2020 ACN Newswire. All rights reserved. www.acnnewswire.com
source http://www.acnnewswire.com/press-release/english/59319/