Leyline's Bridge Capital financing will
support the construction of a 278 MW solar project in southern
Alberta
DURHAM,
N.C., Dec. 12, 2022 /CNW/ -- Leyline
Renewable Capital, a leading provider of flexible capital solutions
for renewable energy developers, today announced it closed its
first international loan with developer Westbridge Renewable Energy
Corp., a Canadian renewable energy company listed on the TSX
Venture Exchange (TSXV: WEB) and the OTCQX Best Market (OTCQX:
WEGYF). The loan will support the 278 MW Georgetown Solar project
in southern Alberta. Georgetown may borrow up to a maximum of the
U.S. dollar equivalent of $4,830,000
Canadian dollars.
"This partnership with Westbridge Renewable represents an
important step for Leyline as we venture into new markets," said
Erik Lensch, CEO of Leyline. "We are
eager to support strong developers like Westbridge Renewable with
projects in regions like Alberta
that have been historically dominated by fossil fuels, but are
shifting toward and very supportive of renewable energy."
The Georgetown Solar project is located in Vulcan County,
Alberta on 710 acres of privately
owned, non-agricultural land. Westbridge will use the loan to satisfy a
security deposit requirement with the Alberta Electricity System
Operator.
"Leyline Renewable Capital is a leading provider of debt for
renewable energy development, backed by a team with deep experience
in renewable investing. Partnering with Leyline strategically
bridges the gap between development and construction on our
flagship project Georgetown Solar PV. This loan allows us to fund
the security payment for the Generating Unit Owner's Contribution
and scale our business with non-dilutive capital. The Georgetown
Solar project has recently received power plant and substation
approval by the Alberta Utilities Commission (AUC)," said
Westbridge Renewable chief financial officer, Philip Stubbs.
About Leyline Renewable
Capital
Leyline Renewable Capital invests in the development,
construction, and financing of sophisticated renewable energy
projects. Backed by a team of seasoned investors with deep
experience in the renewable industry, Leyline provides financing
that bridges the gap between development and construction. By
investing in the pre-construction phase of renewable energy
projects, Leyline can accelerate the development process and help
developers scale their business. Leyline leverages a broad base of
experience in greenfield project development, design, construction,
and finance with an extensive network of relationships with
industry leaders to provide support and capital for projects from
concept to commercial operation.
About Westbridge Renewable Energy
Corp.
Westbridge Renewable Energy Corp. is a Canadian renewable energy
company listed on the TSX Venture Exchange (TSXV: WEB), the OTCQX
Best Market (OTCQX: WEGYF) and the Frankfurt Stock Exchange (FRA:
PUQ). The Company is currently developing a portfolio of
utility-scale solar PV (photovoltaic) projects and Battery Energy
Storage Systems in Canada, the
U.S., and the UK. Westbridge Renewable is focused on delivering
attractive, long-term growth by identifying, originating, and
developing a global portfolio of renewable assets in safe
jurisdictions that support net-zero mandates. The Company's senior
management team has a successful trajectory of previously
developing more than 40 projects worldwide, consistently obtaining
and executing permits for projects on time and within budget.
As one of the very few listed pure-play public solar development
companies, Westbridge Renewable provides ESG minded investors with
exposure to greenfield solar and energy storage projects, with the
potential of strong returns. Through its de-risking model of adding
incremental value before a single solar panel is installed,
Westbridge Renewable turns green fields and the power of the sun
into a reliable, sustainable flow of energy - growing in value with
every stage of a solar project from origination to exit.
For more information, please
visit www.westbridge.energy
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SOURCE Leyline Renewable Capital
