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Leyline Renewable Capital, a leader in providing financing for renewable energy projects, has successfully completed its investment in Sunnynook Solar Energy Inc. This venture was in collaboration with Westbridge Renewable Energy Corp., a Canadian renewable energy company listed on the TSX Venture Exchange and the OTCQX Best Market.
Westbridge recently finalized the sale of its 75% stake in the Special Area 2 solar project in Alberta, a plant capable of generating up to 332MWp, to a subsidiary of METLEN Energy & Metals. Following the sale, Westbridge repaid C$18.4 million in full to Leyline’s lending entities, which had provided loans secured by the project and Sunnynook shares. This transaction highlights Leyline’s commitment to accelerating renewable energy development.
Erik Lensch, CEO of Leyline, mentioned, “Over the last three years, we have grown our partnership with Westbridge Renewable Energy as they have advanced major projects in Canada. Today we are excited to announce that we have realized our investment in connection with Westbridge’s 332 MW solar project in Alberta. Leyline provided funds to support interconnection deposits for this large-scale project. We are thrilled that this solar project will soon start contributing needed energy capacity to the region.” |
