Greenbriar buys 500 MW solar portfolio in Alberta

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Greenbriar Capital Corp. has executed a formal agreement with Devon Sandford of Lethbridge, Alberta, for the acquisition of a 500 MW photovoltaic solar energy project portfolio in Alberta. The proprietary portfolio is at various stages of development, including late-stage, mid-stage and early-stage projects.

Devon owns and operates a large utility-scale solar energy construction firm (Northern DC Solar Inc. NDC) and has built several large utility-scale solar projects in Alberta.

The terms of the transaction call for a series of performance payments based on the capital cost savings below a certain threshold at a commercial production for each project. The payments can be paid from the construction proceeds or elected by Devon to be taken in shares at the then current market price, except the company will seek TSXV approval for the first two million shares to be taken at current market prices. In addition Devon will receive 100,000 shares for each project placed in production plus 500,000 stock options at CAD1.50 (US$1.17) per share. Greenbriar will pay an arms-length consultant 50,000 shares for arranging this transaction.

List of the country updates

Country updates

  • December 04, 2020

    Siemens to supply turbines for 130 MW Rattlesnake Ridge Wind project in Medicine Hat

    Siemens Gamesa Renewable Energy has signed a 130 MW order to supply 26 SG 5.0-145 wind turbines to Berkshire Hathaway Energy Canada for the company’s Rattlesnake Ridge wind power project. Locat...

    Read more
  • November 26, 2020

    GP Joule completes 25.4 MW Innisfail solar project in Alberta

    GP Joule Canada, the local unit of GP Joule GmbH, has completed the development of the 25.4 MW Innisfail solar photovoltaic project in Red Deer County in Alberta, Canada.  The pro...

    Read more
  • November 20, 2020

    Boralex takes full ownership of 296 MW Quebec wind projects

    Boralex Inc. has entered into a definitive agreement to acquire the full 49% equity stake held by the Caisse de dépôt et placement du Québec (CDPQ) in 3 wind farms in Quebec, alrea...

    Read more
  • November 10, 2020

    Capstone secures financing for 132 MWac Claresholm Solar Project in Willow Creek

    Capstone Infrastructure Corporation has signed a credit agreement with ATB Financial, Fiera Infrastructure Private Debt Fund LP, and Telus Pensions Liability Hedging Master Trust to provide up to CAD1...

    Read more
  • October 21, 2020

    TransAlta commissions 10 MW WindCharger battery storage system in Alberta

    TransAlta Renewables Inc. has began the commercial operation of its 10 MW WindCharger battery storage project. WindCharger is Alberta’s first utility-scale, lithium-ion energy storage proje...

    Read more

Share this update