The huge solar project underway in Vulcan County is being packaged up with four other Alberta solar instillations and sold off.
The project known as ‘Georgetown Solar Inc.’ is being sold off along with four other properties of Westridge Renewables.
One of the fields that will used to install solar panels in Vulcan County.
Metka-EGN Ltd., under the MYTILINEOUS Energy & Metals umbrella, has made the offer to buy all five of the projects that have yet to be completed.
The transaction has yet to go through regulatory approvals however the plan is to complete the transaction by way of a share purchase by Metka of all of the issued and outstanding shares of Georgetown Solar Inc., Sunnynook Solar Energy Inc., Dolcy Solar Inc., Eastervale Solar Inc., and Red Willow Solar Inc.
Georgetown is expected to be completed by the end of 2023 with a capacity of up to 230 MWac （megawatts-alternate current） located across 710 acres in Vulcan County, just 11 km south of Carseland on privately owned farmland.
Westridge Renewables will continue to lead the developments until closing.
The combined total of all five projects once completed is expected to generate 1,410 MW （megawatts） or 2.1 TWh （terawatt-hours） which is the equivalent to power 200,000 Canadian homes for a year.
Westridge Renewables sent out the news release on June 1 with the aggregate purchase price, payable in cash, to be between $2.17 million dollars and $3.46 million dollars.
Westbridge shareholders, the TSX Venture Exchange and the Alberta Utilities Commission have yet to approve the transaction.
