Westbridge Renewable Energy Corp Stock Price, News & Analysis

Westbridge Renewable Energy Corporation (TSXV: WEB, OTCQB: WEGYF) has announced its acquisition of the Eastervale Project in Alberta, enhancing its portfolio to approximately 1,285 MWp of solar capacity and 1,106 MWh of battery storage. The Eastervale Project aims for 300 MWp solar photovoltaic and a 200MW/400MWh battery storage system. Currently, it is in Stage 2 of the Alberta Electric System Operator interconnection process. This addition marks Westbridge's fifth utility-scale project in Canada and the U.S., aligning with its commitment to expanding renewable energy assets.

Westbridge Energy Corp. is changing its name to Westbridge Renewable Energy Corp. to align with its focus on renewable energy projects, particularly solar. The name change will take effect on September 30, 2022, with the trading symbol on the TSX Venture Exchange remaining as WEB. There are no changes to the company's share structure, and shareholders do not need to exchange certificates. The company aims to leverage its expertise in solar PV development to meet the growing demand for renewable energy.

Westbridge Energy Corporation announced a significant milestone with its UK subsidiary, having secured a grid connection for a 53MVA Battery Energy Storage System at a former RAF airfield in Lincoln, UK. This project aims to enhance the UK's energy stability by providing power services promptly. The company is in the process of obtaining a long-term land lease and preparing planning applications. CEO Stefano Romanin highlighted this achievement as part of their growing UK portfolio, which now exceeds 1,300MW in capacity, including solar PV and BESS.

Westbridge Energy Corporation (TSXV: WEB, OTCQB: WEGYF) announced the addition of the Dolcy Solar and Battery Storage Project in Alberta, boosting its renewable energy portfolio. The Dolcy Project aims for a capacity of 250MWac solar and 100MW battery storage, complementing existing projects to reach a total of 1,285 MW. With secured site control over 1,025 acres, the project is progressing through interconnection processes and environmental studies. This development highlights Westbridge's capability to originate greenfield projects and positions the company for significant growth in the renewable energy market.

Westbridge Energy Corporation (WEGYF) highlights the Canadian Government's strategic clean energy incentives from Budget 2022, aiming for a net-zero economy by 2050. Key measures include $600 million for renewable electricity projects, a 30% tax credit for clean technology investments, and $2.4 million for establishing a Pan-Canadian Grid Council. The CEO expressed optimism about the supportive regulatory environment as the company expands in Alberta. Additionally, Westbridge engaged Momentum IR for investor relations, granting stock options as part of the agreement.

Westbridge Energy Corp. announced on March 21, 2022, that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (DTC) in the U.S. This development is expected to enhance trading liquidity and accessibility for American investors, potentially attracting more investments. DTC eligibility will facilitate reduced transaction costs and faster execution speeds for brokers and existing investors. The company's shares will continue to trade on the TSX Venture Exchange under the symbol "WEB" and on the Frankfurt Stock Exchange as "PUQ3."

Westbridge Energy Corporation (TSXV: WEB; OTCQB: WEGYF) provided a corporate update highlighting significant growth in solar PV capacity, expanding over 2.5x to 700MW. Key projects include Georgetown Solar (278MWp), Accalia Point Solar (221MWp), and Sunnynook Solar (236MWp), all at various stages of development. The company is actively pursuing battery energy storage systems alongside its solar projects, and aims to establish a presence in strategic markets like the US and UK. Additionally, Paul Larkin announced his retirement effective March 4, 2022, after over a decade with the company.

Westbridge Energy Corp. has commenced trading on the OTCQB Venture Market in the U.S. under the symbol WEGYF, enhancing accessibility for investors. This strategic move aims to improve share liquidity and broaden awareness of the company's renewable energy innovations. The OTCQB requires companies to meet specific reporting standards, providing transparency to investors. Additionally, Westbridge has entered a market-making agreement with ITG to maintain an orderly market for its shares, for a fee of $6,000 per month.

Westbridge Energy Corporation (TSXV: WEB) has acquired a 75% controlling interest in Sunnynook Solar Energy Inc., which is developing a new 236 MWdc solar photovoltaic project and a 100 MW Battery Energy Storage System (BESS) in Alberta, Canada. This acquisition increases Westbridge's total solar capacity to 514 MWdc and demonstrates its ability to secure utility-scale development assets. The project will create jobs and provide renewable energy while utilizing advanced technologies to mitigate solar power intermittency. Westbridge aims to reach 1 GW of development assets in its first year post-RTO.