Greenbriar to soon iron out PPOA terms for Puerto Rico solar project

Canadian renewables developer Greenbriar Capital Corp (CVE:GRB) is close to securing a power purchase and operating agreement (PPOA) with the Puerto Rico Electric Power Authority (PREPA) for its Montalva solar project on the Caribbean island.

The company said today that PREPA has achieved progress on several amended and restated PPOAs, including the one for Montalva. A final agreement on these revised PPOAs is expected on or before May 15, a deadline set by the PREPA governing board.

Greenbriar said both sides expect to come to a final resolution on the few remaining commercial issues within the next week to ten days.

The 80-MW to 160-MW AC Montalva solar farm, featuring battery storage systems, will be constructed in the municipalities of Guanica and Lajas. Greenbriar has picked China Machinery Engineering Corporation (CMEC), a Beijing-based power projects specialist, as the engineering, procurement and construction (EPC) contractor to realise the project.

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