- The Puerto Rico Energy Power Authority (PREPA) has formally approved a settlement agreement with Greenbriar Sustainable Living (TSXV:GRB)
- PBJL will receive a base rate of $0.0985 per kilowatt-hour (kWh) for energy produced, with annual increases of $0.005 per kWh, capped at $0.115 per kWh
- The project, an 80 MWac solar installation sized at 160 MWdc, is expected to generate approximately 280 million kWh annually over a 25-year minimum contract life
- Greenbriar Sustainable Living stock (TSXV:GRB) last traded at $0.41
This content has been prepared in collaboration with Greenbriar Sustainable Living Inc., a third-party issuer, and is intended for informational purposes only.
Greenbriar Sustainable Living (TSXV:GRB) announced a major milestone in its renewable energy efforts in Puerto Rico, as the Puerto Rico Energy Power Authority (PREPA) has formally approved a settlement agreement with Greenbriar’s wholly owned subsidiary, PBJL Energy Corp. (PBJL). The agreement includes finalized pricing terms and has been submitted to the Puerto Rico Energy Bureau (PREB) for further regulatory approval.
Under the terms of the settlement, PBJL will receive a base rate of $0.0985 per kilowatt-hour (kWh) for energy produced, with annual increases of $0.005 per kWh, capped at $0.115 per kWh. This pricing structure is designed to provide long-term financial stability for the project while remaining competitive with other energy sources on the island.
The project, an 80 MWac solar installation sized at 160 MWdc, is expected to generate approximately 280 million kWh annually over a 25-year minimum contract life. Greenbriar has secured a non-dilutive project-level lender to finance the development, ensuring that shareholder equity remains unaffected.
In addition to local support, the project stands to benefit from significant US federal incentives. A 30 per cent federal tax credit is available, with an additional 10 per cent bonus if at least 40 pre cent of the materials used are sourced from the United States, bringing the total potential tax credit to 40 per cent of capital costs.
The settlement agreement has also been structured to proceed to the Financial Oversight and Management Board (FOMB) only if necessary, streamlining the path to final implementation.
Greenbriar Sustainable Living Inc. is a developer of sustainable real estate and renewable energy.
Greenbriar Sustainable Living stock (TSXV:GRB) last traded at $0.41.
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