Westbridge Energy Corp WEB

TORONTO, June 6, 2023 /PRNewswire/ - Westbridge Renewable Energy Corporation (TSXV: WEB) (OTCQX: WEGYF) (FRA: PUQ) ("Westbridge", "Westbridge Renewable" or the "Company") is pleased to announce that its majority owned subsidiary, Sunnynook Solar Energy Inc. ("Sunnynook"), has obtained Power Plant and Battery Energy Storage System ("BESS") Approval (Decision 27971-D02-2023) and a Substation Permit and License for the Rose Lynn 1072S Substation (the "Substation") (Decision 27971-D03-2023) from the Alberta Utilities Commission (the "AUC") for its project, Sunnynook Solar + Energy Storage (the "Sunnynook Project" or the "Project").

The Sunnynook Project is the second of five Alberta projects of Westbridge to receive power plant and BESS approval from the AUC. The approvals allow Sunnynook to construct and operate the Project, located in Special Area No. 2, Alberta. The Project consists of a solar power plant with an approved capacity of up to 270 MWac, BESS with capacity of up to 200 MWh and the Substation. Approval is granted subject to provisions by the Hydro and Electric Energy Act and the Alberta Utilities Commission Act. It is anticipated that applications to the AUC relating to interconnection approvals will be filed in Q4 2023.

Maggie McKenna, Director and COO, commented, "We are pleased to announce the successful attainment of AUC approval for our Sunnynook project, marking yet another significant milestone for our organization. This achievement, combined with the previously obtained approval for Georgetown, means that we now have secured AUC approval for two out of our five projects in Alberta. This progress is a crucial step forward in advancing the Sunnynook project towards the Ready-to-Build stage. We extend our appreciation to the development team for their diligent efforts in making this accomplishment possible."

Westbridge Renewable Energy Corp. originates, develops, and monetizes best-in-class, utility-scale solar PV projects. The Company has a portfolio of projects in three key jurisdictions, Canada, the U.S., and the UK. Westbridge plans to deliver attractive, long-term returns by originating, executing, and developing an international portfolio of renewable assets for investors and utilities. Management has a strong track-record with 40+ projects developed worldwide, obtaining, and executing permits on time and within budget. As one of the very few listed pure-play Canadian solar development companies, Westbridge provides its ESG minded 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,

www.westbridge.energy

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.

Certain information set forth in this document contains forward-looking information and statements including, without limitation, management's business strategy, management's assessment of future plans and operations. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future . Forward-looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project", "potential" or similar words suggesting future outcomes or statements regarding future performance and outlook. Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. This news release contains forward-looking statements about constructing and operating the Project, and the ability of the Company to achieve the aforementioned and are subject to certain risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include, but are not limited to, general business, economic, competitive, regulatory and permitting risks, policy and social uncertainties, changes in laws, market risks, operating history, competition and additional financing upon terms acceptable to the Company or at all, and the other risks identified under the headings "Risk Factors" in the Company's management's discussion and analysis dated March 30, 2023 and other disclosure documents available on the Company's profile on SEDAR at www.sedar.com. The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.

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SOURCE Westbridge Renewable Energy Corp.