Westbridge buys majority stake in 236 MW Sunnynook solar project in Alberta

Westbridge Energy Corporation has acquired a 75% controlling interest in Sunnynook Solar Energy Inc., which is developing a new 236 MWdc solar photovoltaic and 100 MW of Battery Energy Storage System (BESS) project located in Sunnynook, Alberta, Canada.

The project has secured site control in the form of a long-term solar lease covering approximately 940 acres. It is currently in Stage 1 of the Alberta Electric System Operator interconnection process, with environmental studies underway in accordance with Alberta Environment and Parks guidelines.

The transaction is comprised of an initial cash payment of approximately CAD300,000 (US$236,304), including expense reimbursement, together with additional milestone and project development payments of up to an additional CAD1.5 million (US$1.2 million) over the approximately 24-month period needed to bring the project to a ready to build status.