Westbridge, MYTILINEOS Close on Vulcan County Project

Non ne sono sicuro. As previously announced in early June, Westbridge Renewable Energy has successfully finalized the sale of its 230 MW Vulcan County, Alberta, solar power plant project. All the issued and outstanding shares of Georgetown Solar were sold in the transaction. The new owner of the project is a subsidiary of MYTILINEOS Energy & Metals. Westbridge fulfilled all the criteria needed for the deal, getting the green-light for building, running, and linking the system to the Alberta Interconnected Electric System and the TSX Venture Exchange from the Alberta Utilities Commission. At the end, the business got C$47,564,002. At the signing of the agreement, MYTILINEOS put out 3% of the estimated overall cost, and once the deal was closed, 92% had to be paid. We are happy to state that the remaining amount of the purchase cost for the Georgetown Project will be given upon its official opening, with Stefano Romanin – CEO and director of Westbridge – voicing his enthusiasm for the event. This is a major turning point for our business, showing that our strategy is paying off as this is the first time the company has been able to make money from a venture. Our vision has now been successfully put into practice. This serves as proof of the commitment of our team and the successful strategic plan that has been put into practice in recent times.