TSX.V Symbol: "GRB"
Issued and Outstanding: 11,423,000
NEWPORT BEACH, CA, Dec. 9, 2013 /CNW/ - Greenbriar Capital Corp. (TSX.V: GRB) (OTC: GEBRF) is pleased to announce that it has commenced formal construction at its 80-MW Blue Mountain Utah wind energy site. Blue Mountain is a fully contracted 80 MW wind energy project holding a 20-year energy sales agreement with PacifiCorp, a subsidiary of Mid-American Energy Holdings Company, itself 89% owned by Berkshire Hathaway.
Construction has been awarded to RMT, Inc. of Madison, Wisconsin, a subsidiary of IEA Infrastructure and Energy Alternatives, LLC of Chicago. RMT is a world leader in renewable power engineering, procurement and construction services having built over 5,000 MW of renewable energy facilities including 2 world-class projects owned by Greenbriar Capital management's previous company, Western Wind Energy Corp. This included the industry leading 120-MW Windstar Wind Project in Tehachapi, CA and the 10.5-MW Kingman combined wind-solar project, the first purpose built fully integrated wind-solar generating facility in the World.
Construction at Blue Mountain began December 9th and will qualify the 80-MW Blue Mountain Wind Project for $42 Million USD of monetize-able Federal Investment Tax credits.
Jeffrey Ciachurski, CEO of Greenbriar Capital states; "we are delighted to once again be working with RMT, a world renowned renewable power engineering, procurement and construction contractor. Having RMT begin the construction at Blue Mountain, is a major milestone event for the shareholders of Greenbriar Capital. We look forward to bringing the 80-MW Blue Mountain, Utah Project online."
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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this press release constitute "forward-looking statements" under applicable securities laws, which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "intends", "projects", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Such factors include, but are not limited to the state of the Company's business activities and various factors discussed in the Company's annual report filed with securities regulators in Canada. Forward-looking statements are based on current expectations and the Company assumes no obligation to update such information to reflect later events or developments, except as required by law.
SOURCE: Greenbriar Capital Corp.
For further information:
Jeff Ciachurski, Chief Executive Officer
Greenbriar Capital Corp.