Photo's - Blue Mountain

Phase 1 of Blue Mountain Complete
Foundations 12, 13 and 14
Foundations 1, 2, 3, 4 and 5
Foundation WTG 1
Foundation WTG 2
Foundation WTG 3
Foundation WTG 4
Foundation WTG 5
Foundation WTG 12
Foundation WTG 13
Foundation WTG 14

On August 2nd, 2013, Greenbriar completed the formal acquisition agreement of the 80 Megawatt Blue Mountain, Utah Wind Energy Project, USA (“Blue Mountain”).

Blue Mountain is a fully contracted 80 MW wind project that has a 20-year power purchase agreement with PacifiCorp executed on July 3rd, 2013. The Blue Mountain project includes all discretionary permits, eight (8) individual Land Leases and Option to Purchase Agreements, a fully executed 20-year 80-MW Power Purchase Agreement with PacifiCorp, six (6) years of meteorological data and studies, a completed System Impact Study, completed environmental work, the receipt of seven (7) supply term sheets from top tier wind turbine vendors and a draft financing mandate from a world class financial institution.  

The acquisition of Blue Mountain was completed through Greenbriar Capital Corp’s wholly owned US subsidiary, Greenbriar Capital Holdco Inc., which signed a definitive membership interest purchase agreement with Champlin Windpower, LLC of Santa Barbara, California. Michael Cutbirth is the president and CEO of Champlin Windpower as well as President and CEO of Champlin / GEI Wind Holdings, LLC and has a long- standing relationship with the management of Greenbriar. Mr. Cutbirth has been in the wind energy industry for 18 years and was a former director of the American Wind Energy Association (“AWEA”). The Champlin companies are actively developing a number of new wind energy projects in the western U.S. and Hawaii.    

The Acquisition Agreement has immediately granted Greenbriar, a 50% interest. The Agreement then allows Greenbriar to perform two (2) milestone tasks, which will then increase the ownership interest up to 100%. The initial 50% interest was funded to Greenbriar by way of a 3-year loan to prevent share dilution and bears interest at 10% per year.

On August 26th, 2013, Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A., “Rabobank Nederland,” New York Branch (“Rabobank”) was mandated to arrange up to US $150 million project financing for the construction of the Project.  Financial Close for this loan will be subject to the usual and customary due diligence for a wind project as well as lender approvals.

Greenbriar Capital Corp. has also engaged Rabo Securities USA, Inc., a U.S. registered broker-dealer and affiliate of Rabobank, as its exclusive financial advisor in connection with the placement of limited partnership interests in the 80 MW Blue Mountain Utah wind project.

The next plan of action for Greenbriar is to execute a Turbine Supply Agreement and issue a Request for Proposal for an engineering, procurement and construction contractor. Greenbriar expects to begin construction as soon as project financing is complete.

The Blue Mountain Wind Project will create over 100 jobs during construction, offer full-time green collar jobs during its operation, contribute millions of dollars in taxes during construction and provide the county government with over US $15 million in local property tax over the life of the project. The project will further prevent the release of over four (4) million tons of greenhouse gases into the atmosphere during the life of the project while offering the rate payers of Utah, a steady, secure and reliable source of affordable green energy.

 

INFORMATIONAL DOCUMENTS

Prospective 2MW Turbine Plot

Vicinity Map

 

MORE PROJECT PHOTO'S:

2013