Greenbriar Announces Governing Board Approval and Submission by PREPA of Settlement Pricing Agreement to the Puerto Rico Energy Bureau
Rhea-AI Summary
Greenbriar Sustainable Living (GEBRF) announces a significant milestone as PREPA approves a settlement agreement with its subsidiary PBJL Energy The agreement, now submitted to the Puerto Rico Energy Bureau, establishes a power purchase rate of $0.0985 per kwh, with annual increases of $0.005, capped at $0.115 per kwh.
The 80 MWac/160 MWdc project is expected to generate 280 million kwh annually over a minimum 25-year contract period. The project qualifies for a 30% US federal tax credit, with potential for an additional 10% if 40% of materials are US-made. Greenbriar has secured a project-level lender for non-dilutive financing.
Positive
- Secured PREPA approval for power purchase agreement with favorable rates
- 25-year minimum contract term ensures long-term revenue stability
- Non-dilutive project financing secured
- Eligible for up to 40% in federal tax credits
- Large-scale project with 280 million kwh annual generation capacity
Negative
- Agreement still requires additional regulatory approvals
- Rate increases capped at $0.115/kwh may limit long-term revenue growth
Scottsdale, Arizona--(Newsfile Corp. - April 15, 2025) - Greenbriar Sustainable Living Inc. (TSXV: GRB) (OTC Pink: GEBRF) ("Greenbriar" or the "Company") announces that the Puerto Rico Energy Power Authority ("PREPA") has formally approved a settlement agreement ("Settlement Agreement") with the Company's wholly owned subsidiary PBJL Energy Corporation ("PBJL"), and approved the pricing terms that has now been submitted to the Puerto Rico Energy Bureau ("PREB") to continue with the approval process and, only if eventually necessary, to the Financial Oversight and Management Board ("FOMB").
Per the terms of the Settlement Agreement, PBJL will receive a rate of USD
Greenbriar has a project level lender who can provide debt financing for this project at the non-dilutionary project level. The project is 80 MWac and sized at 160 MWdc to annually produce 280 million kwh per year with a minimum contract life of 25 years. The US Federal Government provides a fully fungible
About Greenbriar Sustainable Living Inc.
Greenbriar is a leading developer of sustainable real estate and renewable energy. With long-term, high impact projects and led by a successful industry-recognized operating and development team, Greenbriar targets deep valued assets directed at accretive shareholder value.
ON BEHALF OF THE BOARD OF DIRECTORS
"Jeff Ciachurski"
Jeffrey J. Ciachurski
Chief Executive Officer and Director
Phone: 949.903.5906
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This news release includes "forward-looking statements" and "forward-looking information" within the meaning of Canadian securities laws and United States securities laws (together, "forward-looking statements"). All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the closing of the Shares for Debt Transaction, the issuance of Common Shares, and the approval of the Shares for Debt Transaction and the issuance of Options by the TSX Venture Exchange. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "estimate", "expect", "potential", "target", "budget", "propose" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248538
FAQ
What are the key terms of GEBRF's power purchase agreement with PREPA?
What is the expected annual power generation of GEBRF's Puerto Rico project?
What federal tax incentives is GEBRF eligible for in this project?
What regulatory approvals does GEBRF still need for the PREPA agreement?
