Greenbriar to back 180 MW of wind, solar schemes with units sale
Dec 16, 2013 - Canadian firm Greenbriar Capital Corp (CVE:GRB) said Thursday it had launched a private offering of 2.5 million units, seeking funds to back a 80-MW wind scheme and 100-MW solar project.
More specifically, Greenbriar Capital will use the proceeds to finalise certain activities crucial for the financial close of its 80-MW Blue Mountain wind project in Utah and the 100-MW Puerto Rico solar plant project. It will also allocate the funds for new power acquisitions, land holdings purchases and the repayment of a CAD-1.25-million (USD 1.2m/EUR 859,000) power purchase agreement (PPA) acquisition facility to renewable energy firm Alterra Power Corp (TSE:AXY).
As part of the non-brokered private sale, the renewable energy and real estate projects developer will place the units at a price of CAD 2.50 apiece. Each unit consists of one common share and one half of a two-year share purchase warrant. Every warrant gives its holder the right to buy one additional common share at CAD 3 apeice.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.