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Westbridge Renewable Energy Provides Update on International Solar and Battery Storage Portfolio

1. Westbridge sold Alberta projects, generating over $62 million in cash. 2. Five solar and BESS projects totaling 1.4 GW sold to Metlen Energy. 3. New BESS projects added 536 MWh capacity, targeted for 2026 completion. 4. Company aims to expand its market presence in Ontario and BC. 5. Westbridge focuses on utility-scale solar and battery projects for reliable energy.

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FAQ

Why Bullish?

The cash generation and project sales indicate strong operational performance, enhancing investor confidence.

How important is it?

Significant cash inflows and strategic partnerships position the company favorably for future growth.

Why Long Term?

The strategic growth in projects suggests sustained revenue potential over several years, positively affecting valuations.

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WEBMYTIL.GAMYTHY US
CALGARY, AB, Feb. 5, 2025 /PRNewswire/ - Westbridge Renewable Energy Corp. (TSXV: WEB) (OTCQX: WEGYF) (FRA: PUQ) ("Westbridge", "Westbridge Renewable" or the "Company") is pleased to provide its shareholders with an update of its development portfolio. The Company is delighted to provide Investors a comprehensive update on its international portfolio of utility scale projects. Fiscal year 2024 was our first year realizing gains from our large maturing portfolio with the sale of the Alberta Georgetown and Sunnynook projects as previously announced on November 5, 2024 and December 14, 2023. These two projects added more than $62 million of non-dilutive cash to our balance sheet. In the three years since the RTO, we have surpassed many of our strategic milestones and remain fully committed to our mission of delivering utility scale solar and battery storage projects, with exceptional returns on capital invested. Highlights: Westbridge continues to represent a unique value proposition as a listed renewables developer and capital allocator operating within the utility scale renewable energy space. Portfolio Update The Company announced definitive agreements to sell five Alberta based, utility-scale Solar PV and BESS projects totalling more than 1.4 GW to our strategic partner Metlen Energy & Metals, (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) ("Metlen Energy & Metals") previously announced on June 1, 2023 and June 5, 2023. The Company is pleased to provide an update on the progress on the remaining four Alberta solar projects and on our growing our international development portfolio: Canada New BESS Projects The Company added 5 stand-alone BESS projects located in Alberta, Canada adding a total 536 MWh of energy storage capacity, as announced January 15, 2025. The target 'ready-to-build' dates for these projects are approximately Q2/Q3 2026 at present. The Company continues to evaluate further opportunities for investment into Ontario and British Columbia to grow its market position in Canada. USA UK ITALY Westbridge thanks you for your continued interest and support. About Westbridge Renewable Energy Westbridge originates, develops, operates and monetizes best-in-class, utility-scale solar PV projects, stand-alone battery energy storage projects and other clean energy-focused development. The Company has a portfolio of projects in four key jurisdictions: Canada, the U.S., the U.K. and Italy. Westbridge delivers attractive, long-term returns by originating and developing an international portfolio of renewable energy assets to support increasing demand for energy and grid reliability. Management brings a strong track-record with a cumulative 40+ development projects worldwide. As one of very few listed, pure-play international solar and BESS development companies, Westbridge provides investors with access to greenfield solar and energy storage projects at the earliest stage of development, allowing then to benefit from the full development value chain. Westbridge aims to deliver clean, sustainable electricity and energy storage solutions to support increasing electricity demand and grid reliability in the jurisdictions in which it operates. 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. Forward-Looking Statements Certain information set forth in this document contains forward-looking information and statements including, without limitation, expected permitting, approvals, anticipated satisfaction of the conditions to close the sale of shares of the Alberta projects (the "Transactions") and the timing thereof, 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, including completion of the Transactions as proposed or obtaining requisite approvals for the Transactions, as there is no assurance the Transactions will be completed as planned or at all and the development of its project development pipeline. 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. 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 risks and uncertainties relating to Company's ability to complete licensing requirements, 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 general business, economic, political and social uncertainties, changes in laws, market risks, operating history, competition, and the other risks identified under the headings "Risk Factors" in the Company's annual information form dated August 14, 2024 and other disclosure documents available on the Company's profile on SEDAR+ at www.sedarplus.ca. 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. SOURCE Westbridge Renewable Energy Corp.

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