Westbridge Announces Business Combination with Georgetown Solar
Vancouver, British Columbia – (September 8, 2021) – Westbridge Energy Corporation (TSXV: WEB) (“Westbridge” or the “Company“) is pleased to provide an update with respect to its with Georgetown Solar project (“Georgetown“).
Westbridge Energy Corp (“The Company”) is pleased to announce that its wholly owned subsidiary, Georgetown Solar Inc., has successfully completed its environmental and wildlife field study programs which began in the fall of 2020. All identified constraints (e.g., wetlands) have been avoided per Alberta Environment and Parks (“AEP”) guidance and no residual environmental effects are anticipated. The environmental and wildlife studies, completed by Western Ecosystems Technology, ULC (“WEST”), are analyzed and data processed into a submission to AEP, in a request for a Referral Letter. Once received from AEP, the Referral Letter will be submitted to the Alberta Utilities Commission as part of Georgetown’s application for power plant approval.
The Referral Letter submission was made on September 3, 2021.
Georgetown also completed its preliminary layout engineering and design for the power plant and recently kicked off its stakeholder engagement program pursuant to the Alberta Utilities Commission’s Rule 007 requirements. Georgetown is committed to a transparent development process and open communication lines with all project stakeholders.
“The successful completion of the preliminary layout design and environmental studies and the submission of the AEP Referral Letter represents a significant advancement for the project as we move closer the submission of a Power Plant Application with the Alberta Utilities Commission,” said Maggie McKenna COO. “The project is also advancing its interconnection studies and other deliverables to complete Stage 2 of the AESO interconnection process. We are happy with the progress to date.”
Advancing Georgetown towards shovel-ready while expanding the portfolio in Alberta remains the strategic focus of the Company.
“Alberta represents an excellent market for expansion and the demand for shovel ready assets continues to be very strong. We remain focused on expanding the portfolio in this key market and becoming a significant player in energy transition in the Canadian market,” commented CEO Stefano Romanin. “The recent entrance in the Alberta green energy market of players like Amazon and TC Energy (formerly TransCanada Corp.) signal the increasing importance of delivering renewable energy to customers and strengthen the role of solar in the energy generation mix. We expect the market to further grow with additional buyers to follow.”
Westbridge Energy Corp is a renewable energy company focused on originating and profitably exiting utility-scale Solar PV projects that use energy storage and enabling technologies (Intelligent ESG). Our proven approach provides early-stage, risk-adjusted access to high-return clean energy projects in a manner previously inaccessible to small cap investors.
The Westbridge team is conducting diligence on a pipeline of prospective Solar PV projects with a goal of originating one or more new projects in Alberta in the calendar year 2021. Westbridge targets to double the Megawatts under development by the end of the year.
On behalf of the Board of Directors
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.
This news release contains statements about the Company’s expectations regarding the proposed Transaction of the Company which are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. 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 general business, economic, competitive, and social uncertainties; and the delay or failure to receive all applicable regulatory approvals, and the proposed timing of completion of the Transaction. 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.