Westbridge Renewable Receives final transmission and connection approvals from the Alberta Utilities Commission for Dolcy Solar + Energy Storage Project

Rhea-AI Summary

Westbridge Renewable (OTCQX: WEGYF) announced final regulatory approvals from the Alberta Utilities Commission (Decision 30228-D01-2025) for the Dolcy Solar + Energy Storage Project, completing Transmission Line Permit & Licence and Connection Approval.

The authorization enables construction and operation of the Dolcy 948AL Transmission Line to connect a 300 MWac solar PV plant and a 100 MW / 200 MWh battery energy storage system, moving the project to Ready-to-Build. Once operational, Dolcy is expected to power more than 58,000 Alberta homes. Westbridge notes two prior Alberta project sales that generated $39m and $23m in non-dilutive cash.

Positive

• AUC final approvals granted via Decision 30228-D01-2025
• Project moved to Ready-to-Build stage
• Approved 300 MWac solar plant capacity
• Approved 100 MW / 200 MWh battery storage capacity
• Expected to power > 58,000 Alberta homes
• Prior project sales generated $39m and $23m cash

Negative

• None.

News Market Reaction

-0.26%

1 alert

-0.26% News Effect

On the day this news was published, WEGYF declined 0.26%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Dolcy solar capacity: 300 MWac Dolcy BESS capacity: 100 MW / 200 MWh Homes powered: 58,000 homes +5 more

8 metrics

Dolcy solar capacity 300 MWac Approved capacity of Dolcy solar PV plant

Dolcy BESS capacity 100 MW / 200 MWh Battery energy storage system connected to Dolcy project

Homes powered 58,000 homes Expected Alberta homes powered once Dolcy is operational

Georgetown sale proceeds $39m Non-dilutive cash from Georgetown project sale (Dec 2023)

Sunnynook sale proceeds $23m Non-dilutive cash from Sunnynook project sale (Nov 2024)

Special dividend per share CAD 0.20 Cash dividend announced Sept 23, 2025

Total special dividend CAD 5.057 million Aggregate amount of CAD 0.20 per share special dividend

Share consolidation ratio 4:1 Consolidation effective Aug 22, 2025

Market Reality Check

Price: $1.49 Vol: Volume 6,048 vs 20-day av...

normal vol

$1.49 Last Close

Volume Volume 6,048 vs 20-day avg 5,417 (relative volume 1.12x) ahead of this approval news. normal

Technical Price $1.552 is trading below the 200-day MA at $1.88, indicating a weaker pre-news trend.

Peers on Argus

Peers were mixed pre-news: ALCE up 50% and WNDW up , while RAMPF was down 0.82% ...

Peers were mixed pre-news: ALCE up 50% and WNDW up , while RAMPF was down 0.82% and others were flat. This does not point to a broad Utilities - Renewable move explaining WEGYF’s weakness.

Historical Context

5 past events · Latest: Dec 02 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 02	Project approvals	Positive	-0.3%	Final AUC transmission and connection approvals for Dolcy project.
Oct 22	Strategic expansion	Positive	+8.5%	Announcement of new Alabama data centre project to expand portfolio.
Oct 20	Investor conference	Positive	+2.5%	Participation in Planet MicroCap Showcase with investor meetings.
Sep 23	Special dividend	Positive	+3.2%	Declaration of CAD 0.20 per share special cash dividend.
Aug 19	Share consolidation	Neutral	-1.4%	Implementation of 4:1 share consolidation and reduced share count.

Pattern Detected

Recent news has generally seen aligned positive reactions, except today’s AUC approval, which saw a slightly negative move despite positive project progress.

Recent Company History

This announcement adds another milestone to Westbridge’s recent string of developments. In August 2025, the company completed a 4:1 share consolidation, followed by a special dividend of CAD 0.20 per share (about CAD 5.057 million) in September 2025. In October 2025, it expanded into an Alabama data centre project and presented at the Planet MicroCap Showcase. Today’s final AUC approvals move the Dolcy solar and storage project to Ready-to-Build, building on prior monetizations of the Georgetown and Sunnynook projects.

Market Pulse Summary

This announcement secures final AUC transmission and connection approvals for the Dolcy project, mov...

Analysis

This announcement secures final AUC transmission and connection approvals for the Dolcy project, moving a 300 MWac solar PV and 200 MWh battery system to Ready-to-Build status. It follows earlier monetizations of the Georgetown and Sunnynook projects, which generated $39m and $23m in non-dilutive cash, plus a special dividend of CAD 0.20 per share. Investors may watch for construction milestones, potential asset sales, and further updates on the broader development and data centre portfolio.

Key Terms

battery energy storage system, photovoltaic, Transmission Line Permit & Licence, Connection Approval

4 terms

battery energy storage system technical

"100 MW / 200 MWh battery energy storage system ("BESS") to Alberta's grid."

A battery energy storage system is a device that stores electricity for later use, much like a rechargeable battery for a phone or laptop. It allows energy generated during times of low demand or from renewable sources to be saved and released when needed, helping to balance supply and demand. For investors, it represents a way to support reliable energy flow and capitalize on the increasing demand for flexible, clean power solutions.

photovoltaic technical

"300 MWac solar photovoltaic ("PV") and 100 MW / 200 MWh battery..."

Photovoltaic describes the technology that converts sunlight directly into electricity using panels made of semiconductor materials; think of it like leaves turning sunlight into usable energy for a plant, but producing power for homes, factories and the grid. It matters to investors because photovoltaic systems represent assets, revenue sources, cost structures and regulatory exposure for energy and manufacturing companies, and their adoption rates and efficiency gains affect long-term profitability and market demand.

Transmission Line Permit & Licence regulatory

"This decision grants the Transmission Line Permit & Licence and Connection Approval..."

A transmission line permit and licence are the official approvals a company needs to build, connect and operate high-voltage power lines that carry electricity between producers and consumers. They matter to investors because obtaining them affects whether a project can move forward, how quickly revenue can start, and how much extra cost or delay the business may face — like needing a building permit and utility hookup before a new house can be lived in.

Connection Approval regulatory

"Transmission Line Permit & Licence and Connection Approval, completing all discretionary..."

Permission from a regulator, operator, or service provider that allows a new system, facility, device, or service to be physically or digitally linked to an existing network or infrastructure so it can operate commercially. Investors care because connection approval is often a gating step before revenue generation—like getting the final sign-off to plug a new factory or product into the power grid or internet—and its timing or denial can materially affect project timelines, costs, and risk.

AI-generated analysis. Not financial advice.

CALGARY, AB, Dec. 2, 2025 /PRNewswire/ - Westbridge Renewable Energy Corporation (TSXV: WEB, OTCQX: WEGYF, FRA: PUQ) ("Westbridge", "Westbridge Renewable" or the "Company") is pleased to announce that its wholly-owned subsidiary, Dolcy Solar Inc. ("Dolcy"), has received final approval from the Alberta Utilities Commission ("AUC") for the Dolcy Solar + Energy Storage Project through Decision 30228-D01-2025. This decision grants the Transmission Line Permit & Licence and Connection Approval, completing all discretionary permitting required to commence construction.

The AUC Transmission Line Permit & Licence and Connection Approval  includes approval of the Needs Identification Document from the Alberta Electric System Operator ("AESO"), the Facility Approval for Dolcy Solar Inc., and the Facility Approvals for AltaLink Management Ltd. This authorization allows Dolcy to construct and operate the Dolcy 948AL Transmission Line, connecting the 300 MWac solar photovoltaic ("PV") and 100 MW / 200 MWh battery energy storage system ("BESS") to Alberta's grid. Located in the Municipal District of Wainwright No. 61, the Dolcy Project represents one of Westbridge's most advanced Canadian developments.

The completion of these final stage approvals with the AUC moves the Dolcy project into the 'Ready-to-Build' stage.  Dolcy is a multi-system solution combining a utility-scale solar power plant with an approved capacity up to 300 MWac, alongside battery storage (BESS) with capacity up to 200 MWh and once operational, is expected to power more than 58,000 Alberta homes. This marks the Company's third successful project to reach this stage in Alberta, demonstrating Westbridge's continued commitment as a leading developer of renewable energy projects in the province.  It follows the previously announced successful development of both the Georgetown and Sunnynook projects.

• The Georgetown Project was sold to Metlen Energy & Metals and closed in December 2023 generating non-dilutive cash of $39m for the Company. See press release dated December 14, 2023,
• The Sunnynook Project which was sold to Metlen Energy & Metals and closed in November 2024 generating non-dilutive cash of $23m for the Company. See press release dated November 05, 2024. Canada.

Stefano Romanin, Director and CEO, commented:
"This approval represents the final regulatory milestone for Dolcy, confirming our ability to originate and advance high-quality renewable projects from concept to construction readiness. It's a tremendous achievement by our team and partners."

Maggie McKenna, Director and COO, added:
"We are proud to have achieved this important milestone for the Dolcy project, particularly in light of the challenging and ever-evolving regulatory environment in this Province."

About Westbridge Renewable Energy

Westbridge originates, develops, operates and monetizes best-in-class, utility-scale solar PV projects, stand-alone battery energy storage projects and other clean energy-focused development. The Company has a portfolio of projects in four key jurisdictions: Canada, the U.S., the U.K. and Italy. Westbridge delivers attractive, long-term returns by originating and developing an international portfolio of renewable energy assets to support increasing demand for energy and grid reliability. Management brings a strong track-record with a cumulative 40+ development projects worldwide. As one of very few listed, pure-play international solar and BESS development companies, Westbridge provides investors with access to greenfield solar and energy storage projects at the earliest stage of development, allowing them to benefit from the full development value chain. Westbridge aims to deliver renewable energy and energy storage solutions to support increasing electricity demand and grid reliability in the jurisdictions in which it operates.

For more information, please visit: www.westbridge.energy | Twitter | LinkedIn

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain information set forth in this document contains forward-looking information and statements including, without limitation, expected construction timing and financing, future power procurement strategies, and the timing thereof. Forward-looking information also includes management's assessment of future plans and operations, including the construction of the Dolcy Project. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future, including project milestone progress at Fontus, and should not be relied upon for any other purpose. Forward-looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project", "potential", "will", "may", "could", "should", or similar words suggesting future outcomes or statements regarding future performance and outlook. Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them, as actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to: the Company's ability to complete licensing and interconnection processes; availability of capital and financing on acceptable terms or at all; risks relating to general business, economic, competitive, regulatory, policy and social uncertainties; changes in laws or market conditions; and the risks identified under the headings "Risk Factors" in the Company's annual management's discussion & analysis dated November 30, 2024, and other disclosure documents available on the Company's profile on SEDAR+ at www.sedarplus.ca. The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to publicly update or revise any forward-looking statements or information, except as required by law.

View original content to download multimedia:https://www.prnewswire.com/news-releases/westbridge-renewable-receives-final-transmission-and-connection-approvals-from-the-alberta-utilities-commission-for-dolcy-solar--energy-storage-project-302630147.html

SOURCE Westbridge Renewable Energy Corp.

FAQ

What approvals did Westbridge (WEGYF) receive for Dolcy on December 2, 2025?

The company received AUC Transmission Line Permit & Licence and Connection Approval (Decision 30228-D01-2025).

What are the Dolcy project capacities for Westbridge (WEGYF)?

Dolcy is approved for up to 300 MWac solar PV and 100 MW / 200 MWh BESS.

What stage is the Dolcy project at after the AUC decision for WEGYF?

The Dolcy project has entered the Ready-to-Build stage.

How many homes will Dolcy power once operational for Westbridge (WEGYF)?

Dolcy is expected to power more than 58,000 Alberta homes when operational.

How does the AUC approval affect Dolcy's grid connection for WEGYF?

Approval authorizes construction and operation of the Dolcy 948AL Transmission Line to connect the project to Alberta's grid.

What cash proceeds has Westbridge previously generated from Alberta project sales?

Westbridge reported non-dilutive cash proceeds of $39m (Georgetown) and $23m (Sunnynook).