VANCOUVER, April 29, 2013 /PRNewswire/ --
Greenbriar Capital Corp. (TSXV: GRB) and Alterra Power Corp. (TSX: AXY) are pleased to announce they have entered into a partnership, AG Solar One, which intends to develop 100 MW of solar generation capacity in Puerto Rico under a Master Renewable Power Purchase and Operating Agreement with the Puerto Rico Electric Power Authority. The partnership, which will be owned 50/50 by Greenbriar and Alterra, acquired rights to the master agreement last week.
John Carson, Alterra's Chief Executive Officer, said, "We're excited to be working with the Greenbriar team, with their strong Puerto Rico experience, and putting our combined efforts toward developing and completing this solar project. The partnership may pursue other projects together as well, which will bolster Alterra's external growth plans and complement its internal growth projects such as the JimmieCreek hydro plant."
Jeff Ciachurski, Greenbriar's Chief Executive Officer, said, "We are delighted to partner with Alterra Power Corp., a company which holds the unique position of operating the four corners of renewable energy generation. Alterra's experience of owning and operating wind, solar, hydro and geothermal makes the partnership with Greenbriar a fully integrated renewable technology platform."
About Greenbriar Capital Corp.
Greenbriar Capital Corp. is a leading developer of renewable energy and sustainable real estate projects. With contracted power sales agreements and key project locations led by a successful industry recognized operating and development team, Greenbriar targets high impact assets directed at accretive shareholder value.
ON BEHALF OF THE BOARD OF DIRECTORS
Jeffrey J. Ciachurski
President, Chief Executive Officer and Director
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.
Certain statements in this press release constitute "forward-looking statements" under applicable securities laws, which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "intends", "projects", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. Such statements in this news release include, but are not limited to, the Company's discussion concerning the Offer. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Such factors include, but are not limited to, the state of the Company's business activities and various factors discussed in the Company's annual report and annual information contained in the Company's 20F Annual Report filed with the United States Securities and Exchange Commission and securities regulators in Canada. Forward-looking statements are based on current expectations and the Company assumes no obligation to update such information to reflect later events or developments, except as required by law.
For further information:
Jeff Ciachurski, CEO
Greenbriar Capital Corp.
SOURCE Greenbriar Capital Corp.