Boise, Idaho--(Newsfile Corp. - February 6, 2019) - Greenbriar Capital Corp (TSXV: GRB) ("Greenbriar") is pleased to announce that the Puerto Rico Electric Power Authority (PREPA) has communicated to Greenbriar, through Luis Baco, that it wants to re-open negotiations to move forward the Montalva Project - the company's 100 MW solar/30MW battery powered energy project.
The shovel-ready project, when built out, will be the largest renewable energy project in the Caribbean. Generating 100% renewable energy, the project will greatly reduce emissions on the island and will save PREPA customers between $1 and $2 billion dollars in energy savings over the 25 to 35-year lifespan of the project. In addition, it will add 900 direct jobs during the construction phase and over 1,000 indirect jobs will be created for suppliers, transport, accommodations, etc. The $305 million project will be located in, and provide substantially to the tax base of the municipalities of Guanica and Lajas.
Jeff Ciachurski, CEO of Greenbriar states: "We have always believed this is a world class project, and we look forward to working with PREPA to getting it done. It will give PREPA what it needs most…affordable, safe and reliable clean energy for the citizens of Puerto Rico."
For more information see www.greenbriarcapitalcorp.com.
About Greenbriar Capital Corp:
Greenbriar is a leading developer of renewable energy, sustainable real estate, real estate blockchain, and artificial intelligence. With long-term, high impact, contracted sales agreements in key project locations and led by a successful, industry-recognized operating and development team, Greenbriar targets deep valued assets directed at accretive shareholder value.
ON BEHALF OF THE BOARD OF DIRECTORS
Jeffrey J. Ciachurski
Chief Executive Officer and Director
The Toronto Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the Toronto Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Toronto Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release may contain forward-looking statements. All statements, other than statements of historical fact, constitute "forward-looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance.
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