Westbridge buys 75% stake in Sunnynook Solar Energy
Westbridge Energy Corporation has bought a 75% controlling interest in Sunnynook Solar Energy, which is developing a new 236 MWdc solar photovoltaic and 100 MW of Battery Energy Storage System in Sunnynook, Alberta.
The project has secured site control in the form of a long-term solar lease covering approximately 940 acres. It is currently in Stage 1 of the Alberta Electric System Operator interconnection process, with environmental studies underway in accordance with Alberta Environment and Parks guidelines.
Maggie McKenna, chief operating officer and director, said the acquisition of Sunnynook significantly expands Westbridge's footprint in Alberta from 278MWdc to 514MWdc and further demonstrates the Company's ability to originate and acquire utility-scale development assets in leading jurisdictions for solar project development.
"This acquisition confirms Westbridge's position as one of the largest, fastest-growing solar PV developers in Canada by MW," she said. "The Sunnynook project will provide clean, renewable energy to Albertans and benefit the local economy by creating new jobs in a fast-growing industry."
Westbridge ceo Stefano Romanin added that Sunnynook will employ leading-edge technologies, pairing solar PV generation with an advanced battery energy storage system, mitigating the intermittency of solar power.
Westbridge now controls three utility-scale solar PV development projects totalling 735MW, including two Alberta solar PV projects and the recently announced 221MW development project in Accalia Point, Texas. The company has also initiated two BESS projects in Alberta which could add an additional 200MW of battery storage capacity.
The company is on track to exceed management's target of 1GW of development assets in the first year of operations post RTO.
Westbridge origination team continues to evaluate multiple solar and battery storage development projects to further scale and strengthen its portfolio, with a vision of maximising the return on renewable energy assets through accretive project monetization and retention of royalties.
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