Greenbriar Capital Corp., a Vancouver-based real estate and energy project developer, has executed a letter agreement to purchase a 100% interest in an 80 MW wind project located in Utah.
Terms of the acquisition were not disclosed, and Greenbriar did not name the project or the seller.
According to the company, the acquisition will comprise permits and permit applications; various studies; on-site wind data and met towers; all applicable consents and approvals for the project; wind energy land leases; and the nearly completed power purchase agreement for 80 MW.
Greenbriar will commence the completion of the land entitlement process, invest in the real property, engage project lenders and place requests for proposals contractors and turbine vendors. The agreement is subject to the execution of final definitive agreements; however, Greenbriar notes, the agreement does contain some binding provisions.
‘We are pleased to be involved with helping Utah achieve energy independence and providing the Utah ratepayers with clean, reliable and affordable 100% carbon-free electricity," says Jeff Ciachurski, CEO of Greenbriar Capital.