Energy firms target renewables developer Greenbriar Capital

Oct 6, 2014 - A number of large energy companies have shown interest in either fully acquiring Canada-based renewable energy developer Greenbriar Capital Corp (CVE:GRB) or buying its major assets.

The target said so in a press release on Friday, without giving more information.

Greenbriar develops solar and wind energy as well as sustainable real estate projects. In mid-September, the company said it had acquired the joint venture interests in AG Solar One LLC, developer of a 100-MW solar photovoltaic (PV) project in Puerto Rico, previously held by sector player Alterra Power Corp (TSE:AXY). As a result, it now has full control of AG Solar.

In August 2013, Greenbriar acquired a 50% interest in the 80-MW Blue Mountain wind scheme in the US state of Utah from California-based Champlin Windpower LLC. It can later snap up the entire project if certain milestones are achieved. When up and running, the wind farm will operate under a 20-year power purchase agreement (PPA) with power utility PacifiCorp, a unit of MidAmerican Energy Co (PINK:MDPWK), which in turn is controlled by Warren Buffett's Berkshire Hathaway (NYSE:BRK.A).

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