Leyline Renewable Capital(Leyline), a leading provider of debt capital solutions for renewable energy developers,today announced that is has successfully realized its investment in Sunnynook Solar Energy Inc. withWestbridge Renewable Energy Corp.(Westbridge), a Canadian renewable energy company listed on the TSX Venture Exchange (TSXV: WEB) and the OTCQX Best Market (OTCQX:WEGYF).
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Westbridge recently announcedthat it completed the sale ofits 75 percent owned, Special Area 2,Albertasolar power plant project with a capacity of up to 332MWp (the “Project”), to a subsidiary ofMETLEN Energy & Metals.
In connection with closing of the transaction,Westbridgerepaid in fullC$18,405,650from the proceeds of the transaction, owing under its loan facilitiessecured by the Project and the shares of Sunnynook,provided by certain lending entities established by Leyline Renewable Capital, LLC.
Erik Lensch, CEO of Leyline, said, “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.”
About Leyline Renewable CapitalLeyline Renewable Capital provides flexible financing solutions for renewable energy developers. With deep industry expertise and a commitment to sustainability, Leyline invests in the pre-construction phase of projects, helping developers scale their operations and bring more renewable energy online. For more information, please visit:leylinecapital.com.
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SOURCE Leyline Renewable Capital
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