Westbridge Renewable Energy Corporation finalized the sale of its 75% stake in the 332 MW Sunnynook Solar and Battery Energy Storage Project in Alberta to METLEN Energy & Metals. The transaction, approved by the Alberta Utilities Commission (AUC) and the TSX Venture Exchange, provided Westbridge with CAD $41.4 million (~$29.78 million) at closing. The Sunnynook project, now ready-to-build, will be developed by METLEN, supplying clean energy to power approximately 50,000 Alberta homes. With a portion of the sale proceeds, Westbridge repaid CAD $18.4 million (~$13.23 million) in loans associated with the project. This sale is part of a larger agreement between Westbridge and METLEN, encompassing additional Alberta projects.
Westbridge transfers Alberta’s 332 MW Sunnynook PV project to METLEN
The sale of Westbridge’s 75% stake in Sunnynook Solar to METLEN was completed, set to power 50,000 Alberta homes. (Image Source: Pixabay)
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