Greenbriar Capital Completes Acquisition Of Blue Mountain, Utah Wind Energy Project
The next plan of action for Greenbriar is to execute a Turbine Supply Agreement and sign the mandate agreement with the financial institution to provide up to US $150 million in non-recourse project debt and tax equity.
Upon the mandate execution, Greenbriar will issue a Request for Proposal for an engineering, procurement and construction contractor. Greenbriar expects to begin construction as soon as project financing is complete.
The Blue Mountain Wind Project will create over 100 jobs during construction, offer fulltime green collar jobs during its operation, contribute millions of dollars in taxes during construction and provide the county government with over US $15 million in local property tax over the life of the project. The project will further prevent the release of over four (4) million tons of greenhouse gases into the atmosphere during the life of the project while offering the rate payers of Utah, a steady, secure and reliable source of affordable green energy.
Greenbriar has granted to consultants and employees 200,000 stock options at a price of $2.60 per share, with an expiry date of June 10, 2018 and a further 250,000 stock options at a price of $2.60 per share with an expiry date of July 26, 2018.Jeff Ciachurski, CEO of Greenbriar states that: " Blue Mountain benefits both the citizens of Utah and the Greenbriar shareholders with this milestone project. The ratepayers of Utah are provided a long-term fixed price, secure, emission free and affordable local energy source while the shareholders of Greenbriar will have 180 Megawatts of renewable energy sales agreements now under contract with only 11 Million shares outstanding. Mr. Cutbirth, CEO of Champlin Windpower states that: " The management of Greenbriar has an impressive track record of developing wind energy projects over the last several years and creating tremendous value for their shareholders in the process. We are excited about the closing of this transaction and look forward to working with the Greenbriar team on the Blue Mountain and other wind projects and believe there are significant synergies to this strategic acquisition." About Greenbriar Capital Corp. Greenbriar Capital Corp is a leading developer of renewable energy and sustainable real estate projects. With long term, high impact, contracted renewable energy sales agreements and key project locations led by a successful industry recognized operating and development team, Greenbriar targets deep value assets directed at accretive shareholder value.
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