Alterra Power Corp. (TSX: AXY) and Greenbriar Capital Corp. (TSXV: GRB) have entered into a partnership, AG Solar One, which intends to develop 100 MW of solar generation capacity in Puerto Rico under a Master Renewable Power Purchase and Operating Agreement with the Puerto Rico Electric Power Authority. The partnership, which will be owned 50/50 by Alterra and Greenbriar, acquired rights to the master agreement last week.
John Carson, Alterra's Chief Executive Officer, said, "We're excited to be working with the Greenbriar team, with their strong Puerto Rico experience, and putting our combined efforts toward developing and completing this solar project. The partnership may pursue other projects together as well, which will bolster Alterra's external growth plans and complement its internal growth projects such as the Jimmie Creek hydro plant."
Jeff Ciachurski, Greenbriar's Chief Executive Officer, said, "We are delighted to partner with Alterra Power Corp., a company which holds the unique position of operating the four corners of renewable energy generation. The direct experience by Alterra of owning and operating wind, solar, hydro and geothermal makes the partnership with Greenbriar a fully integrated renewable technology platform."