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
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
Forward‑looking statements are generally identifiable by the use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. These statements, however, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed, implied by or projected in the forward‑looking information or statements. Important factors that could cause actual results to differ from these forward‑looking statements include but are not limited to: risks related to the development and potential development of the Company's projects, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, the availability of tax incentives in connection with the development of renewable energy projects and the sale of electrical energy, as well as those factors discussed in the sections relating to risk factors discussed in the Company's continuous disclosure filings on SEDAR.
There can be no assurance that any forward‑looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward‑looking information or statements. Except as required by law, the Company does not intend to revise or update these forward‑looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.
SOURCE: Greenbriar Capital Corp.
For further information: Jeff Ciachurski, Chief Executive Officer, Greenbriar Capital Corp., Phone: 949.903.5906, Email:firstname.lastname@example.org