WEB Westbridge Renewable Energy Corp

Sunnynook Project: 330MWp Solar PV + 200MWh BESS under development in Alberta, Canada

TORONTO, Jan. 11, 2023 /CNW/ - Westbridge Renewable Energy Corporation (TSXV: WEB) (OTCQB: WEGYF) (FRA: PUQ3) ("Westbridge", "Westbridge Renewable" or the "Company") is pleased to announce the expansion of the Sunnynook Project, one of the Company's most advanced projects under development in Alberta, Canada. The project solar PV capacity is being increased from 236MWp to 330MWp with the expansion of the project site area.

The Sunnynook Solar PV capacity expansion + BESS power plant is significant as it increases the power plant contribution to help Alberta achieve its decarbonisation objectives, enables the project to deliver carbon-free electricity from 44,000 to 62,000 households, and adds more potential sale value of the project.

The Sunnynook Project has advanced to Stage 3 of the Alberta Electric System Operator ("AESO") interconnection process. Westbridge has received the Referral Letter from Alberta Environment and Parks ("AEP"), and is working to submit the application for construction and operation of the Solar PV + BESS plant to Alberta Utility Commission ("AUC") within Q1 2023.

Francesco Paolo Cardi, Vice President of Development, commented: "The Sunnynook expansion adds significant potential value to this asset as we prepare our application for AUC approval. Westbridge is committed to originating and acquiring high-quality renewable projects that will meet the demand for utility-scale renewable energy in Alberta."

Westbridge Renewable capacity pipeline now totals 1,379 MWp Solar PV and 553 MW / 1,106 MW BESS.

The Georgetown, Sunnynook, Dolcy and Eastervale assets compose Westbridge Renewable's Canadian solar portfolio, located in southern and central Alberta, with a total Solar PV capacity of 1,158 MWp and BESS of 500 MW / 1 GWh. The Company is progressing on the development of the projects and expects them to be shovel-ready by 2023, 2024 and 2025, respectively.

Accalia Point is the Company's U.S. market project and consists of a Solar PV development with a capacity of 221 MWp, located in Cameron County, Texas.

In the United Kingdom, the Company is developing one standalone battery energy storage system project with a capacity of 53 MW/106 MWh.

Westbridge Renewable Energy Corp. develops best-in-class, utility-scale solar PV projects. The Company has a portfolio of projects in three key jurisdictions, Canada, the U.S., and the UK. 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, obtaining, and executing permits on time and within budget. As one of the very few listed pure-play Canadian solar development companies, Westbridge provides its ESG minded 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.

On behalf of the Board of Directors,

www.westbridge.energy

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.

Certain information set forth in this document contains forward-looking information and statements including, without limitation, 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. 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.

This news release contains forward-looking statements about the Company's Sunnynook Project, application to the AUC for approval of the Sunnynook Project, if at all, and the ability of the Company to achieve the aforementioned, the anticipated installed capacity and total capacity of the Company's projects, each of 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, 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 COVID-19 global pandemic, changes in laws, market risks, operating history, competition, and the other risks identified under the headings "Risk Factors" in the Company's management's discussion and analysis dated March 29, 2022 and other disclosure documents available on the Company's profile on SEDAR at www.sedar.com. 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 Renewable Energy Corp.