Westbridge Renewable Energy Corp Stock Price, News & Analysis

Westbridge Renewable Energy Corporation (WEGYF) has received approval from the TSX Venture Exchange to commence a normal course issuer bid (NCIB) program. The company announced revised dates for the NCIB, which will now run from June 11, 2025 to June 10, 2026, instead of the previously announced period of June 9, 2025 to June 8, 2026. The NCIB will end earlier if the maximum number of common shares targeted for repurchase is reached before the termination date.

Westbridge Renewable Energy Corporation has received TSXV approval to initiate a new normal course issuer bid (NCIB) program. The company can purchase up to 5,057,492 shares, representing 5% of its 101,149,851 outstanding shares. The NCIB will run from June 9, 2025 to June 8, 2026, with purchases made through TSXV at prevailing market prices. All repurchased shares will be cancelled and returned to treasury. The Board believes the share buyback represents good use of financial resources and may enhance shareholder value. Westbridge has appointed Canaccord Genuity Corp. to execute the purchases. This follows their previous NCIB program which ended March 20, 2025, under which they repurchased and cancelled 693,800 shares.

Westbridge Renewable Energy (WEGYF) reported strong financial results for FY2024, generating $99 million in gross proceeds from project sales with $60 million profit before tax. The company repaid $35 million in debt, returned $10 million to shareholders, and maintains $37 million in cash. After the expiration of agreements with Metlen Energy for Alberta projects, Westbridge retains ownership of Dolcy, Eastervale, and Red Willow projects, representing 1.8 GW of Solar and BESS capacity. The company expanded into Ontario with three new solar projects totaling 500 MWdc. Project Dolcy received AUC approval, while Eastervale and Red Willow are being updated for resubmission. Westbridge's development portfolio now approaches 10GW across four jurisdictions, positioning it for strategic growth in North America's renewable energy sector.

Westbridge Renewable Energy (WEGYF) provided an update on its international solar and battery storage portfolio. The company reported significant achievements in FY2024, including the sale of Alberta Georgetown and Sunnynook projects, generating over $62 million in non-dilutive cash. The company has achieved 30x portfolio growth to >9GW under development.

Key developments include: repayment of over $35m debt, $10m capital returned to shareholders (12% yield), and AUC approval for Project Dolcy. The company has definitive agreements with Metlen Energy & Metals for five Alberta-based projects totaling 1.4 GW. Additionally, Westbridge added 5 new standalone BESS projects in Alberta with 536 MWh total capacity, and maintains international presence with projects in USA (including 221 MWdc Accalia Point), UK (106 MWh Fiskerton BESS), and Italy (62 MW solar projects).

Westbridge Renewable Energy Corp. (WEGYF) has announced five new stand-alone Battery Energy Storage System (BESS) projects in Alberta, Canada, adding 539 MWh of battery storage capacity to its portfolio. Each project has secured site control, completed environmental permitting feasibility studies, and confirmed interconnection applications in AESO's cluster two process.

The company's development portfolio has expanded more than 30 times since its public listing, reaching approximately 9.5 GW across 22 projects in Canada, the United States, the U.K., and Europe. Additionally, Westbridge granted 930,000 Stock Options at $0.85 per Common Share and up to 3,720,000 Common Shares through RSUs and PSUs to management and directors.

The company maintains a positive outlook for 2025, citing improving macro conditions, renewable energy growth, emerging energy storage markets, improving project economics, and increasing hyperscaler PPA market capacity driven by AI demand.

Leyline Renewable Capital has successfully realized its investment in Sunnynook Solar Energy through Westbridge Renewable Energy Corp (TSXV: WEB, OTCQX: WEGYF). The transaction involves Westbridge's sale of its 75% owned 332MWp solar power plant project in Alberta to METLEN Energy & Metals. As part of the closing, Westbridge fully repaid C$18,405,650 owed under loan facilities provided by Leyline-established lending entities. The loan supported interconnection deposits for this large-scale project, which will contribute energy capacity to the Alberta region.

Westbridge Renewable has closed the sale of its 75% owned, 332MWp Sunnynook Solar Project in Alberta to METLEN Energy & Metals. The transaction, completed through the sale of Sunnynook Solar Energy Inc. shares, yielded C$41,440,385 at closing, representing 92% of the estimated purchase price, with the remaining balance due upon commercial operations. Westbridge repaid C$18,405,650 in loan facilities from the proceeds. The company retains ownership of three other Alberta subsidiaries also under share purchase agreements with METLEN. The Sunnynook project, when completed, is expected to power over 50,000 Alberta homes.

Westbridge Renewable Energy (TSXV: WEB, OTCQX: WEGYF) has provided an update on its development portfolio. The company has announced definitive agreements to sell 5 Alberta utility-scale Solar PV and BESS projects, totaling over 1.4 GW, to strategic partner Metlen Energy & Metals. The Georgetown Project sale closed in December 2023, bringing in more than $40M in non-dilutive cash.

Progress updates were provided for the remaining 4 Alberta projects: Sunnynook Solar (270 MWac), Dolcy Solar (300 MWac), Eastervale Solar (300 MWac), and Red Willow Solar (225 MWac). The company also has over 1GW of early-stage solar + storage projects under evaluation in Alberta and Ontario.

Internationally, Westbridge has projects in the USA (Accalia Point, 190 MWac), UK (Fiskerton, 53 MWac), and Italy (Gierre Solare, 32 MW and NM Solare, 30MW). The company remains positive about the clean energy sector, citing easing macro headwinds and accelerating demand for clean power.

Westbridge Renewable Energy (TSXV: WEB, OTCQX: WEGYF) has received approval from the Alberta Utilities Commission for its Dolcy Solar + Energy Storage Project. This marks the company's third Alberta project to obtain AUC approval. The Dolcy Project includes:

• A solar power plant with up to 300 MWac capacity
• Battery storage (BESS) with up to 200 MWh capacity
• The Dolcy 1148S Substation

Located in the Municipal District of Wainwright, Alberta, the project is expected to power over 72,000 Alberta homes once operational. Westbridge's COO, Maggie McKenna, highlighted the project's potential for clean energy production, agricultural productivity, and job creation through agrivoltaics. The company's international portfolio now includes more than 18 projects across four countries.