Greenbriar Capital Corp. (GRB:TSXV) was up 20% Monday morning after the developer of renewable energy and sustainable real estate projects announced a partnership with Atherton Pacific Green to build a Photovoltaic Solar Project in Puerto Rico.
Greenbriar: led by CEO, Jeffrey J. Ciachurski
Ciachurski is the past Founder & Chief Executive Officer of Western Wind (WND:TSXV). Western Wind was bought out in March, 2013 by Brookfield Renewable Energy Partners in a deal worth approximately $430 million.
You would know this if you had downloaded our latest EBook which highlights 50 of Canada’s top small-cap buyouts. Ciachurski is featured in the Ebook.
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Ciachurski’s Greenbriar is led by former key personnel and key advisors of Western Wind Energy Corp.
Greenbriar Capital jumps 20% after Atherton Pacific partnership
Despite being up 20% Monday, Greenbriar‘s market cap sat at roughly $21.6 million, still down considerably from its highs of 2014.
This morning, on April 27th, Greenbriar Capital announced it had partnered with Atherton Pacific Green to build a 100 MW “Smart Grid” Montalva Photovoltaic Solar Project in Puerto Rico.
In addition, the company announced it had retained CV Brokerage as the project finance advisor for the 100 MW Montalva Solar Project.
Greenbriar delivers on renewable energy deal
Greenbriar finally gave the market something to be happy about Monday after issuing its first formal press release in roughly 6 months.
Seperate news: Greenpeace has been concerned about the amount of power data centers have been pulling off the grid (which in the U.S. and most countries is still largely dependent on coal) to provide electricity and power.
In an article from 2013 on Gigaom.com, both Apple and Facebook were called out by Greenpeace for their power usage. See the excerpt below:
“Data centers are increasingly requiring energy capacity of close to 100 MW of power, which is the equivalent power for about 80,000 U.S. homes, says Greenpeace. While most Internet companies don’t disclose the details of their facilities’ energy consumption, Apple’s billion-dollar data center in North Carolina is estimated to require 100 MW, according to Greenpeace.”
Greenbriar is answering the call of entities such as Greenpeace to move away from coal-fired power generation by building renewable and clean energy platforms, which fits into the companies model of producing sustainable real estate projects.
Greenbriar’s stock price reacts to Peurto Rico deal
Greenbriar’s share price was up 20% on just 16,000 shares traded Monday morning to $1.74 per share.
Greenbriar Capital has partnered with Atherton Pacific Green of Newport Beach California for engineering, procurement, and construction of the 100 MW “Smart Grid” Montalva Photovoltaic Solar Project located in Puerto Rico, USA. Below is an excerpt outlining the financing and potential revenue from the press release this morning as reported by Greenbriar:
“Greenbriar has also retained CV Brokerage Inc. (“CV Brokerage”) of the Philadelphia area as its financial advisor to arrange project financing for the Solar Project. Financial close for this project will be subject to the usual and customary due diligence for a solar project of this size as well as third party approvals. CV Brokerage will arrange a conventional project capital structure comprising of senior lenders, tax equity investors and appropriate subordinate mezzanine lenders wherever needed. Greenbriar will build and own 100% of the project. The annual production is estimated at 240 million kwh per year and about $60 million in annual revenues.”
Again, this is a significant project given Greenbriar’s current market cap of roughly $21 million.
Jeff Ciachurski, CEO of Greenbriar Capital Corp commented that,
“we are delighted to have APG join the project. Montalva is a fully integrated large utility scale (up to 146 Megawatt dc – 100 Megawatt ac) solar photovoltaic project with storage and smart grid solution. The size and sheer output of this project will be the largest in the Caribbean, providing the citizens of Puerto Rico with a source of inexpensive, reliable, and clean renewable energy for decades to come, offsetting expensive and dirty oil based generation that has been plaguing the Island for over half a century.”
Click here to read the entire press release.
Ciachurski is an example of another TSX Venture CEO getting things done in a tough market. Long-term shareholders in Greenbriar Capital must have rejoiced at the announcement of today’s deal, including the partnership with Atherton Pacific, project financing update and the potential revenue should the deal proceed and be completed as planned.
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