TORONTO, Jan. 18,
2024 /CNW/ - Westbridge Renewable Energy Corp. (TSXV:
WEB) (OTCQX: WEGYF) (FRA: PUQ) ("Westbridge", "Westbridge Renewable"
or the "Company") is pleased to announce it has been ranked
as the eleventh top performing company of the OTCQX and named to
the 2024 OTCQX® Best 50, a ranking of top performing companies
traded on the OTCQX Best Market last year.
The OTCQX Best 50 is an annual ranking of the top 50 U.S. and
international companies traded on the OTCQX market. The
ranking is calculated based on an equal weighting of one-year total
return and average daily dollar volume growth in the previous
calendar year. Companies in the 2024 OTCQX Best 50 were
ranked based on their performance in 2023.
This latest recognition by the OTCQX follows the closing of the
230MWac (278 MWdc) Georgetown
project in December 2023 and
previously announced share purchase agreements for the sale of Red
Willow Solar Inc., Eastervale Solar Inc., Dolcy Solar Inc., and
Sunnynook Solar Energy Inc. to Mytilineos Energy & Metals (RIC:
MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US)
("Mytilineos").
"2023 was a very successful year for the Company," said
Scott M. Kelly, Executive Chairman,
Westbridge Renewable. "The recent sale of the Company's
Georgetown project to Mytilineos
in December added more than $40
Million CAD ($30M USD) in
non-dilutive cash to the Company's Balance Sheet. Our remaining
Alberta projects, totaling over 1
GW of nameplate capacity, continue to progress towards ready to
build status, at which point they will be sold to Mytilineos in
terms of the previously announced definitive agreements. The
Company is entering 2024 with a strong balance sheet and an
impressive North American portfolio and an active and growing
international development pipeline. Thank you to Stefano Romanin, Maggie
McKenna, Philip Stubbs and
the entire management team for their exceptional performance in
both 2022 and 2023 and to our many shareholders, partners and
stakeholders for their tremendous support".
For the complete 2024 OTCQX Best 50 ranking,
visit https://www.otcmarkets.com/files/2024_OTCQX_Best_50.pdf.
The OTCQX Best Market offers transparent and efficient trading
of established, investor-focused U.S. and global companies. To
qualify for the OTCQX market, companies must meet high financial
standards, follow best practice corporate governance, and
demonstrate compliance with applicable securities laws.
About Westbridge Renewable Energy
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.
For more information, please
visit: www.westbridge.energy | Twitter |
LinkedIn
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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/westbridge-renewable-energy-named-to-2024-otcqx-best-50-302038703.html
SOURCE Westbridge Energy Corporation