Westbridge Secures Grid Connection for Fiskerton Battery Energy Storage System Project in the UK
TORONTO, June 23, 2022 /PRNewswire/ - Westbridge Energy Corporation (TSXV: WEB) (OTCQB: WEGYF) and (FRA: PUQ3) ("Westbridge" or the "Company") is pleased to announce that Westbridge Energy UK Ltd, the United Kingdom subsidiary of Westbridge Energy Corporation, has secured a grid connection with Western Power Distribution for the Fiskerton 53MVA Battery Energy Storage System ("BESS") to be located at a former RAF airfield in Lincoln, United Kingdom. Westbridge is now in the process of securing a long-term lease for the site land and is preparing a planning application. The project will be strategically located beside an existing solar farm that was previously developed by the Westbridge team (See press release dated November 3, 2021).
Alex Dickinson, Special Advisor of Enabling Technologies, commented, "Securing a grid connection for Fiskerton is a significant achievement for our team, considering the competitive nature of the UK market. The BESS will supply power and other services to the UK grid in a matter of milliseconds, once developed. Such speed of response is crucial in ensuring a secure and stable energy system in terms of frequency response and dynamic control that is key to the UK transition to a low carbon economy."
Stefano Romanin, CEO and Director commented, "We are pleased to have reached this important target of securing a grid connection on our stand-alone BESS. We are keen to continue building our UK portfolio and leverage from the extensive experience of the Westbridge team in developing assets in the UK. Our portfolio continues to expand rapidly and has reached a total capacity over 1,300MW that includes solar PV and BESS."
Westbridge Energy Corporation develops best-in-class solar PV projects. The Company 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 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,
Scott M. Kelly
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 the Company's development of its grid connection with Western Power Distribution for a 53MVA BESS, securing a long-term lease for the project site land and application preparation and submission and the ability of the Company to achieve the aforementioned, each of which are forward-looking in nature and, as a result, 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 general business, economic, competitive, regulatory, policy and social uncertainties, and availability of permits and financing upon terms acceptable to the Company or at all. Applicable risks and uncertainties include, but are not limited to regulatory risks, risks related to the COVID-19 global pandemic, changes in laws, market risks, operating history, competition, and the other risks identified under the headings "Risk Factors" in the Company's management's discussion and analysis dated March 29, 2022 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 Energy Corporation
Company Codes: OTC-QB:WEGYF, TorontoVE:WEB, Frankfurt:PUQ3, OTC-BB:WEGYF, OTC-PINK:WEGYF
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