Weekly renewables M&A round-up (Aug 8-12)
Aug 12, 2022 17:43 CESTNovember 17 (Renewables Now) - Greenbriar Capital Corp (CVE:GRB) will build 90 MW of solar parks in Canada’s Alberta province to serve domestic oil and gas producer West Lake Energy Corp as part of a wider project framework for 400 MW of capacity.
The duo has signed a binding agreement that calls for Greenbriar to build, own and operate the photovoltaic (PV) parks, starting with a 30-MW plant. West Lake, meanwhile, will procure the electricity from the first 30-MW portion and will also have the option to buy the output of the project’s second stage that will add the remaining 60 MW.
According to Greenbriar’s estimates, the capital expenditure needed for the 90-MW initiative will stand between CAD 105 million (USD 83.7m/EUR 73.9m) and CAD 120 million. The scheme is expected to bring 10-year levelised earnings before interest, tax, depreciation and amortisation (EBITDA) of around CAD 19.5 million.
Construction firm Nu-E Corp has been hired to build the plants.
Greenbriar and Calgary, Alberta-based West Lake have agreed to a wider initiative that will see them collaborate on more projects and potentially deliver renewable power to upstream oil and gas producers without the capabilities of building their own plants. The partners’ goal is to reach 400 MW of installed capacity in the next few years.
(CAD 1.0 = USD 0.797/EUR 0.704)
Weekly renewables M&A round-up (Aug 8-12)
Aug 12, 2022 17:43 CESTUK hits 25.5 GW of wind power capacity
Aug 12, 2022 17:15 CESTRWE to make over EUR 5bn in green investments in 2022
Aug 12, 2022 17:11 CESTTurkish renewables firm Kalyon Enerji sells 50% stake to Abu Dhabi's IHC for 477 mln euro
Aug 12, 2022 16:27 CESTDEME installs substation at Fecamp wind farm offshore France
Aug 12, 2022 15:59 CESTUnit of Malaysia's TNB gets more time to reach fin close for 50-MW solar project
Aug 12, 2022 15:30 CEST