Greenbriar Capital Corp receives turbine supply proposal
TSX.V Symbol: "GRB"
Issued and Outstanding: 11,733,000
Newport Beach, CA, April 7, 2014 /CNW/ - Greenbriar Capital Corp. (TSXV: GRB) (OTC: GEBRF) (the "Company") is pleased to announce that it has received a second proposal from the world's largest wind turbine manufacturer, for the supply of 80 MW of wind energy generating equipment to be deployed at Blue Mountain, Utah. Upon execution of a binding agreement, Greenbriar will finalize the Balance of Plant contract and allow the lenders and tax advisors to complete the project financing.
Blue Mountain is an 80 MW wind project located in Southeastern Utah, which began construction in December 2013. A total of 20% of the supporting pads were poured and 4,500 feet of roads completed to qualify the project for the Section 1603 tax credits, which provide 30% of the eligible capital costs by way of a dollar for dollar monetize-able federal credit. In effect, the US Treasury pays for 30% of a wind project's capital costs.
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 sales agreements in key project locations and led by a successful industry recognized operating and development team, Greenbriar targets deep value assets directed at adding significant accretive shareholder value.
ON BEHALF OF THE BOARD OF DIRECTORS
Jeffrey J. Ciachurski
President, Chief Executive Officer and Director
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This press release may contain forward‑looking statements. All statements, other than statements of historical fact, constitute "forward‑looking statements" and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company's strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance.
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SOURCE Greenbriar Capital Corp.For further information: Jeff Ciachurski, Chief Executive Officer, Greenbriar Capital Corp., Phone: 949.903.5906, Email:email@example.com