- Greenbriar Capital (GRB) has acquired a 500-megawatt solar energy project portfolio in Alberta
- Greenbriar executed the agreement with Devon Sandford, the owner of Alberta-based Northern DC Solar (NDC)- a large utility scale solar energy construction firm
- Greenbriar is a developer of sustainable real estate and renewable energy
- Northern DC Solar recently built several large solar projects in Southern Alberta
- The proprietary portfolio is at various stages of development
- Greenbriar Capital is currently up 2.76 per cent to C$1.49 per share
Greenbriar Capital (GRB) has acquired a 500-megawatt solar energy project portfolio in Alberta.
Greenbriar, a developer of sustainable real estate and renewable energy, executed the agreement with Devon Sandford, the owner of Alberta-based Northern DC Solar (NDC)- a large utility scale solar energy construction firm.
Sandford said he was in talks with several municipalities in Southern Alberta wanting to get off of coal and natural gas when Greenbriar stepped in.
“What Greenbriar has taken over is those negotiations and those opportunities, as well as 200MW of solar field opportunities,” he added.
The proprietary portfolio is at various stages of development, including late-, mid-, and early-stage projects. Northern DC Solar recently built several large solar projects in Alberta.
Transitioning from the manufacturing and commissioning of utility scale power systems into utility scale solar projects has provided NDC a unique perspective, critical insights and overall advantages on how to deliver large scale solar projects efficiently and cost effectively.
Through this acquisition, Greenbriar hopes to gain an advantage in the market as it benefits from NDC’s recent successful mechanical and electrical installations of one of the first large scale tracking solar systems in Canada.
Sandford said these solar actuated trackers move to follow the sun in order to maximize output on an hour-by-hour basis. Sandford believes Greenbriar will position itself as a real market leader with this acquisition.
“I think the shareholders are getting a gem, specifically because of the system and the model that we put together from a cost perspective on these large farms,” he added.
Greenbriar Capital is currently up 2.76 per cent to $1.49 per share at 12:37pm EST.