Welcome to our dedicated page for Westbridge Renewable Energy news (Ticker: WEGYF), a resource for investors and traders seeking the latest updates and insights on Westbridge Renewable Energy stock.
Westbridge Renewable Energy Corp (WEGYF) drives the clean energy transition through utility-scale solar PV and battery storage projects across North America and Europe. This news hub delivers essential updates on the company's project developments, financial milestones, and strategic partnerships. Track WEGYF's progress in transforming renewable energy infrastructure from initial permitting to operational execution.
Access verified press releases and market-moving announcements covering new project launches, regulatory approvals, technology innovations, and corporate collaborations. Investors gain critical visibility into the company's greenfield development expertise and asset monetization strategies. Industry professionals benefit from insights into large-scale renewable project execution and evolving market dynamics.
Bookmark this resource for direct access to Westbridge's official communications and third-party analyses. Regular updates ensure stakeholders maintain current awareness of developments impacting solar energy investments and battery storage advancements. Explore how WEGYF navigates complex energy markets while delivering sustainable infrastructure solutions.
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.
Westbridge Renewable Energy has provided a corporate update emphasizing several key achievements and future plans. The sale of the Georgetown project brought in over $40 million in non-dilutive cash, supporting global project expansion and capital return to shareholders. Management highlighted their recognition in the TSX Venture 50 and OTCQX Best 50 rankings.
The company has declared a cash distribution of C$0.10 per share and initiated a share repurchase program for up to 5% of its outstanding shares. Portfolio updates include significant progress on solar PV and BESS projects in Canada, the U.S., UK, and Italy. The Sunnynook project in Canada is expected to close in Q4 2024, with other projects following in 2025.
Westbridge has secured land rights for future projects expected to be shovel-ready by 2026 and 2027. The company is optimistic about the macro environment, with easing headwinds and increasing demand for clean energy boosting project economics and deal flow.
Westbridge Renewable Energy Corp. (TSXV: WEB, OTCQX: WEGYF, FRA: PUQ) has engaged Joshua Cohen of Westbury Capital Group and Paul Adams as investor relations advisors for a six-month initial term starting May 27, 2024. The services include corporate communications, shareholder engagement, news release drafting, and social media management. Each consultant will receive a monthly fee of $3,000 and 50,000 options with a $1.00 exercise price, valid until May 27, 2027. The agreements are subject to TSX Venture Exchange approval.
Westbridge Renewable Energy Corp. has announced a cash distribution of C$0.10 per share, following the conclusion of the Georgetown Solar Project. The distribution is aimed at rewarding shareholders and will be payable on June 21, 2024, to shareholders of record as of June 7, 2024. This distribution is classified as a return of capital, and shareholders are advised to seek independent tax advice. Westbridge is a pure-play Canadian solar development company with a portfolio of utility-scale solar PV projects in Canada, the U.S., the UK, and Europe. The company aims to deliver long-term returns through the development of renewable assets and has a strong track record with over 40 projects developed worldwide.
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