Westbridge Renewable is pleased to announce the origination of two new projects in Europe, comprised of the Gierre Solare Project, located in Lazio, Italy, and the NM Solare Project, located in Lazio and Umbria, Italy, expanding the Company’s continuously growing portfolio into Europe.
The projected capacity of Gierre Solare Project is 32MW Solar PV and 30MW for the NM Solare Project. Both projects have secured land and grid access, completed feasibility studies, and planning applications are in progress.
Stefano Romanin, Director and Chief Executive Officer, commented, “Italy is a strong market with a favourable long-term outlook, poised to be one of the leading renewable energy markets in Europe. Westbridge will leverage the team’s experience and proven track record in developing renewable projects in Italy. Diversifying our presence across Europe strengthens our portfolio and opens new avenues in another renewable forward jurisdiction. This strategic expansion underscores the diligence of our origination team evaluating development opportunities across diverse jurisdictions, bolstering the sustainability and success of our origination-to-monetization model.” Stefano Romanin added, “The recent sale of Georgetown Solar has strengthened Westbridge’s capabilities to expand the project pipeline and to fuel the Company’s growth strategy, in addition to delivering value to all Westbridge shareholders.”
The European expansion of the Company’s global solar portfolio and future development plans for its Italian projects follow the successful sale of the 230MWac (278 MWdc) Georgetown Solar project for $47,564,002 received at closing on December 13, 2023 to a subsidiary of MYTILINEOS Energy & Metals (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) as previously announced:
About Westbridge Renewable Energy
Westbridge Renewable Energy Corp. originates, develops, and monetizes best-in-class, utility-scale solar PV projects. The Company has a portfolio of projects in three key jurisdictions, Canada, the U.S., and the UK. Westbridge plans to deliver attractive, long-term returns by originating, executing, and developing an international portfolio of renewable assets for investors and utilities. Management has a strong track-record with 40+ projects developed worldwide, obtaining, and executing permits within budget. As one of the very few listed pure-play Canadian solar development companies, Westbridge provides its ESG minded investors with valuable access to greenfield solar projects. This means the Company can invest at the earliest stage of solar energy development benefiting from the full value chain, as well as the expected wider adoption of renewable energy going forward. Westbridge brings together regulators, corporate buyers, and landowners with the goal of delivering clean, sustainable electricity to end users.
