Docly Solar is the Company's third
Alberta project to be granted AUC
approval
TORONTO, Sept. 17,
2024 /CNW/ - Westbridge Renewable Energy
Corporation (TSXV: WEB) (OTCQX: WEGYF) (FRA: PUQ)
("Westbridge",
"Westbridge Renewable" or the "Company") is pleased
to announce that its wholly-owned subsidiary, Dolcy Solar Inc.
("Dolcy"), has obtained Power Plant and Battery Energy
Storage System ("BESS") Approval (Decision 28723-D01-2024)
and a Substation Permit and License for the Dolcy 1148S Substation
(the "Substation") (Decision 28723-D03-2024) from the
Alberta Utilities Commission (the "AUC") for its project,
Dolcy Solar + Energy Storage (the
"Dolcy Project" or the "Project").
The Dolcy Project is the third Westbridge project to receive power plant and
BESS approval from the AUC, and is part of a portfolio of several
utility-scale solar projects being developed in Alberta. The approvals allow Dolcy to
construct and operate the Project, located in the Municipal
District of Wainwright,
Alberta.
The Project is a multi-system solution combining a solar power
plant with an approved capacity up to 300 MWac, alongside
battery storage (BESS) with capacity up to 200 MWh and the
Substation. Approval is granted subject to provisions by the Hydro
and Electric Energy Act and the Alberta Utilities Commission Act.
It is anticipated that interconnection approvals will be filed in
Q1 2025 to the AUC.
Maggie McKenna, Director and COO,
commented, "We are pleased to announce the successful AUC
approval for our Dolcy project, which, once operational, is
expected to power more than 72,000 Alberta homes. This marks another
significant achievement for Westbridge in furtherance of our commitment to
energy transition by making reliable, low-cost renewable energy
available to Albertans.
This approval represents a positive step forward for solar
energy in the region, recognizing the benefits of combined land-use
through agrivoltaics to deliver a compelling mix of clean energy,
agricultural productivity and job creation.
This achievement, combined with the previously announced
approvals for Georgetown Solar and Sunnynook Solar, further
demonstrates Westbridge's ability
to consistently select and deliver utility scale renewable
projects. The proven Westbridge business model is delivering strong
momentum across our international portfolio, which now encompasses
more than 18 projects in four countries. We are excited about
the future as we continue to grow and expand our
footprint."
About Westbridge Renewable Energy
Westbridge Renewable Energy Corp. originates, develops, and
monetizes best-in-class, utility-scale solar PV projects. The
Company has a portfolio of projects in four key jurisdictions,
Canada, the U.S., the U.K., and
Italy. Westbridge plans to deliver attractive,
long-term returns by originating, executing, and developing an
international portfolio of renewable assets for investors and
utilities. Management has a strong track-record with 40+ projects
developed worldwide, originating and executing projects. As one of
the very few listed pure-play Canadian solar development companies,
Westbridge provides its investors
with valuable access to greenfield solar projects. This means the
Company can invest at the earliest stage of solar energy
development benefiting from the full value chain, as well as the
expected wider adoption of renewable energy going forward.
Westbridge brings together
regulators, corporate buyers, and landowners with the goal of
delivering clean, sustainable electricity to end users.
For more information, please visit: www.westbridge.energy |
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Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements
Certain information set forth in this document contains
forward-looking information and statements including, without
limitation, the construction and operation of the Project, filing
of subsequent reports, application to the AUC for
interconnectionand the timing thereof, management's business
strategy, management's assessment of future plans and operations.
Such forward-looking statements or information are provided for the
purpose of providing information about management's current
expectations and plans relating to the future, including
construction and operation of the Project, filing of applications
to the AUC for interconnection will be completed as planned or at
all. Forward-looking statements or information typically contain
statements with words such as "anticipate", "believe", "expect",
"plan", "intend", "estimate", "propose", "project", "potential" or
similar words suggesting future outcomes or statements regarding
future performance and outlook. Readers are cautioned that
assumptions used in the preparation of such information may prove
to be incorrect. Events or circumstances may cause actual results
to differ materially from those predicted as a result of numerous
known and unknown risks, uncertainties and other factors, many of
which are beyond the control of the Company. Although the Company
believes that the expectations reflected in these forward-looking
statements are reasonable, undue reliance should not be placed on
them as actual results may differ materially from the
forward-looking statements. Factors that could cause the actual
results to differ materially from those in forward-looking
statements include risks and uncertainties relating to Company's
ability to complete licensing requirements, general business,
economic, competitive, regulatory, policy and social uncertainties,
and availability of permits and financing upon terms acceptable to
the Company or at all. Applicable risks and uncertainties include,
but are not limited to regulatory risks, risks related to the
pandemics, changes in laws, market risks, operating history,
competition, geopolitical risks, and the other risks identified
under the headings "Risk Factors" in the Company's Annual
Information Form dated August 14,
2024 and other disclosure documents available on the
Company's profile on SEDAR+ at www.sedarplus.ca. The
forward-looking statements contained in this press release are made
as of the date hereof, and the Company undertakes no obligation to
update publicly or revise any forward-looking statements or
information, except as required by law.
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SOURCE Westbridge Energy Corporation