Westbridge Renew Stock Price, News & Analysis

Westbridge Renewable Energy Corporation has announced a significant expansion of its Sunnynook Project in Alberta, Canada, increasing the solar PV capacity from 236MWp to 330MWp. This expansion is expected to provide carbon-free electricity to up to 62,000 households and enhance the project's market value. The project has reached Stage 3 of the AESO interconnection process, and an application for construction approval will be submitted to the AUC in Q1 2023. Westbridge's total capacity pipeline now stands at 1,379MWp Solar PV and 553MW / 1,106MWh BESS.

Leyline Renewable Capital has successfully closed its first international loan with Westbridge Renewable Energy Corp. to fund a 278 MW solar project in southern Alberta. The loan, valued at up to $4.83 million CAD, will assist in meeting security deposit requirements for the Georgetown Solar project. Leyline's CEO emphasized the partnership as a pivotal step into new markets, supporting the shift from fossil fuels to renewable sources in Alberta, which is traditionally reliant on non-renewable energy.

Westbridge Renewable Energy Corporation (TSXV: WEB) (OTCQX: WEGYF) has secured financing of CAD$4,830,000 through a loan agreement to fund its Georgetown Solar + Energy Storage project. This loan, provided by Leyline Renewable Capital, features a 12% interest rate and matures in 12 months, ensuring continued progress on the project. The Georgetown project has recently obtained necessary approvals from the Alberta Utilities Commission, which positions the company favorably in the renewable energy market.

Westbridge Renewable Energy Corp. is now trading on the OTCQX Best Market under the symbol WEGYF, having graduated from the OTCQB Venture Market. This move aims to enhance visibility and accessibility for U.S. investors. The company's common shares also trade on the TSX Venture Exchange and Frankfurt. Recently, Westbridge received final approval for its Georgetown solar project, expected to begin monetization in Q1 2023. The company has expanded its project portfolio significantly in Alberta and is focusing on growth in the U.S. renewable energy market.

Westbridge Renewable Energy Corporation has secured construction approvals for its Georgetown Solar + Energy Storage Project from the Alberta Utilities Commission. The project boasts a solar capacity of 278 MWp and a Battery Energy Storage System (BESS) of up to 200 MWh. This milestone marks the first of four Alberta projects to receive such approvals, confirming Westbridge's capabilities as a leading solar developer. The project is part of a broader portfolio of 1,285 MWp of solar PV and 500 MW of BESS under development across North America and the UK.

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.