Greenbriar unveils partner for 100-MW solar project in Puerto Rico
Solar panels. Featured Image: Jackiso/Shutterstock.com
Canadian renewables developer Greenbriar Capital Corp (CVE:GRB) will build the 100-MW Smart Grid Montalva solar photovoltaic (PV) plant in Puerto Rico, the US in partnership with Atherton Pacific Green (APG).
Greenbriar said on Monday it will construct and own 100% of the facility, while its partner will provide solar, storage and smart grid technical oversight.
Once the plant is completed, it will be generating some 240 GWh of electricity per year and around USD 60 million (EUR 55m) in annual revenues. Its size and sheer output will be the largest in the Caribbean, according to Greenbriar CEO Jeff Ciachurski.
At the same time, Greenbriar has appointed CV Brokerage Inc to be its financial advisor when it comes to arranging financing for the project. The firm will work on a conventional project capital structure, including senior lenders, tax equity investors and appropriate subordinate mezzanine lenders.