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. with Westbridge Renewable Energy Corp. (Westbridge), a Canadian renewable energy company listed on the TSX Venture Exchange (TSXV: WEB) and the OTCQX Best Market (OTCQX: WEGYF).
Westbridge recently announced that it completed the sale of its 75 percent owned, Special Area 2, Alberta solar power plant project with a capacity of up to 332MWp (the "Project"), to a subsidiary of METLEN Energy & Metals.
In connection with closing of the transaction, Westbridge repaid in full C$18,405,650 from the proceeds of the transaction, owing under its loan facilities secured 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."
