Horizon Petroleum Ltd. press release
Westbridge Provides Corporate Update
TSXV - TSX Venture Exchange · Natural Gas · Oil · Canada
Canada NewsWire
VANCOUVER, BC , March 4, 2022 /CNW/ - Westbridge Energy Corporation (TSXV: WEB) (FRA: PUQ3) (OTCQB: WEGYF) (" Westbridge " or the " Company ") provides its shareholders with a corporate update.
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Corporate Update Management is pleased with the implementation of the Company's growth strategy to date, leading Westbridge to be one of the fastest-growing solar PV developers in Canada . The Company is executing the development of its greenfield projects, advancing strategic acquisitions, and adding battery storage projects to its portfolio. Westbridge remains well capitalised and is fully funded to first project exit. Highlights since recommencing trading on the TSX Venture Exchange on June 17, 2021 (the "RTO") include:
Expanding the Company's solar PV capacity more than 2.5x to 700MW Battery Energy Storage Systems at Georgetown and Sunnynook _Establishing Westbridge affiliates in two strategic markets: __the United States and the United Kingdom
_ Attracting talent with proven track records in the renewable energy sector _Achieving strong share price performance substantially outperforming the TSXV index and renewable energy peer group since the RTO
_ _Launching Calgary, Alberta office
_ Developing Robust Origination Pipeline
Strategic Drivers for Growth Westbridge continues to pursue a growth strategy based on our proven model:
Focusing on project origination and early-stage acquisition of renewable developments in Canada , the USA , and the UK. Using leading-edge technology for Solar PV with provisions for on-site BESS, Green Hydrogen production, and AI-driven interconnection systems that maximize returns when selling into the grid. Monetizing projects at or before the ready-to-build stage, including provisions for ongoing royalty agreements. Demonstrating financial discipline including the maintenance of a lean head office and capex-light approach to origination while attracting top global talent. Establishing a sound ESG approach, with a focus on best practices for land management, protection of ecosystems, stakeholder and community engagement, diversity in board representation and management, and transparency in our governance practices.
Retirement of Paul Larkin The Company announces the retirement of Paul Larkin effective March 4 , 2022. Mr. Larkin joined the Westbridge Board of Directors in 2010 and has served as a member of the Audit Committee and Compensation Committee. Scott M. Kelly , Executive Director of Westbridge , said, "Paul has played a key role at Westbridge for over ten years, and he provided oversight of Westbridge's evolution to where it is today. We thank Paul for his contributions to the Company and for his collaboration on the board and look forward to working with him as an advisor".
About Westbridge Westbridge Energy Corporation develops best-in-class solar PV projects. The Company plans to deliver attractive, long-term returns by identifying, originating, executing, and developing an international portfolio of renewable assets for investors and utilities. The Westbridge Energy Corporation management team has a strong track-record. The management team of the Company has previously developed 40+ projects worldwide, obtaining and executing permits for projects on time and within budget. As one of the very few listed pure-play Canadian solar development companies, Westbridge provides its 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.
On behalf of the Board of Directors
Scott M. Kelly Executive Chair & Director Westbridge Energy Corporation
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
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SOURCE Westbridge Energy Corporation
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