Greenbriar Sustainable Living Inc. (Greenbriar) engages in the acquisition, development, operation, and sale of commercial, residential, industrial, and renewable energy related real estate and energy projects in North America.
The company’s most advanced development project is Sage Ranch, a 995 unit entry level housing project, located on 138 acres of residential real estate located in Tehachapi, California, the U.S.A.
The company is also pursuing its Montalva Solar Project, a proposed solar...
Greenbriar Sustainable Living Inc. (Greenbriar) engages in the acquisition, development, operation, and sale of commercial, residential, industrial, and renewable energy related real estate and energy projects in North America.
The company’s most advanced development project is Sage Ranch, a 995 unit entry level housing project, located on 138 acres of residential real estate located in Tehachapi, California, the U.S.A.
The company is also pursuing its Montalva Solar Project, a proposed solar and battery photovoltaic renewable generating facility, to be located in municipalities of Guanica and Lajas, Puerto Rico.
The initial phase of the Montalva Solar Project would be developed under a revised 80 MW AC Power Purchase and Operating Agreement (the PPOA) between the company and the Puerto Rico Energy Power Authority (PREPA) dated May 28, 2020. On August 7, 2020, the company received unanimous approval from the Puerto Rico Energy Bureau and the Montalva PPOA moved on to final approval by the Puerto Rico Financial Oversight and Management Board (the FOMB). On February 26, 2021, the FOMB approved two projects and excluded the approval of the Montalva Solar Project. The company has submitted a new application to the FOMB to approve the Montalva Solar Project, and the company and PREPA are working to resolve the outstanding issues before the Puerto Rico Energy Bureau. The company and PREPA plan on filing an updated submission to the FOMB by July 1, 2023.
In addition to the Sage Ranch and the company’s solar projects, it holds the exclusive Canadian sales, distribution, and marketing rights for the entire suite of Smart Glass energy products developed and built by Gauzy of Tel-Aviv, Israel. Gauzy is a Smart Glass technology company, manufacturing a complete product line of liquid crystal glass (LCG) products for worldwide use. Gauzy embeds technology into glass, offering varying degrees of opacity for privacy or projection when needed, or transparency for an open atmosphere when desired. Gauzy glass can be installed in homes, office buildings, hospitals, apartments, universities, schools, hotels, trucks, and automobiles. The company acquired the distribution rights on September 25, 2017, when it completed the acquisition of an Ontario based private company, which holds the exclusive Canadian sales rights. At this point in time, the company has put this project on hold in order to permit it to focus on the Sage Ranch real estate project and the Montalva Solar Project.
Sage Ranch Real Estate Project
On September 27, 2011, the company acquired real property in Tehachapi, California, the U.S.A. The company expanded its holding to 138 acres, and received final City Council approval on September 12, 2021, to build 995 homes. On November 26, 2019, the company acquired the additional 5-acres from the county Government, for a total of 138 acres (collectively, the Property), in consideration for the transfer of the non-Sage Ranch parcel of 28 acres. The Property is held by the company through its indirect, wholly-owned subsidiary, Greenbriar Capital (U.S.) LLC.
On October 1, 2017, the company entered into an agreement with Captiva Verde Wellness Corp. (Captiva) - then known as Captiva Verde Land Corp. - to sell a 50% undivided interest in the Property. On October 6, 2018, the company completed the agreement. On August 10, 2020, the company modified its agreement with Captiva into a joint venture whereby the company retained sole title to the Property and Captiva would fund all development expenditures for a 50% net profits interest.
The Property underpinning the Sage Ranch Practice consists of a total of 143 acres of vacant land in Tehachapi, California, located between the parallel arterial roads of Valley Boulevard and Pinon Street near Downtown Tehachapi.
Sage Ranch is being developed on the Property as a sustainable entry-level residential real estate development, and is the company's most advanced development project. It is to be constructed under a Final Master Development Plan that emphasizes a responsible sustainable approach to the planned community. The company received final City Council approval on September 12, 2021 to build 995 homes.
The Property is located between the parallel arterial roads of Valley Boulevard and Pinon Street near Downtown Tehachapi.
Sage Ranch is located in an area zoned for residential development. The company has obtained approvals under the city of Tehachapi's Planned Development Zone requirements to accommodate the Sage Ranch's varied density and product types. The company received approval of its Preliminary Development Plan from the Planning Commission on February 11, 2019.
The company received City Council approval of its Final Master Development Plan, 995 home Tract Map and its Final Environmental Impact Report on September 12, 2021.
The company is working to file a Precise Development Plan (Precise Plan) for the first phase of the development. A Precise Plan will be required for each of the project phases and approvals are expected to be granted assuming each Precise Plan is consistent with the previously-approved Final Master Development Plan. Approval of the Phase I Precise Plan is expected to be received in Q2 2023 following which all the permits needed for construction can be applied for and, when obtained, construction can begin. The company is planning to complete Sage Ranch in six phases over a period of approximately six years at the rate of between 142 to 204 homes per year.
The Sage Ranch Final Master Development Plan provides for 995 total dwelling units at an overall gross density of 7.2 Homes/Acre. Eight different housing prototypes will be offered for sale ranging from 5,500 square foot single-family lots with 1,650 to 2,500 square foot homes to double story apartments at 780 square feet. The diversity of housing options within the community is expected to appeal to a broader demographic and broader spectrum income groups.
Sage Ranch is designed with a focus on ‘Complete Streets’ running full length North/South and East/West to connected streets throughout the community versus the standard post-war suburban ‘within the fence’ subdivision having non-contiguous streets and cul-de-sacs, which can force a neighbor to travel half a mile by car to get to another home only 100 feet away on an opposing street.
The company has preliminarily retained Landmark Builders Group as its general contractor to build Sage Ranch under a verbal agreement. In due course, the company will convert this to a definitive agreement.
The principal regulator of the Sage Ranch project is the City of Tehachapi.
The Sage Ranch real estate project is the company’s most advanced development project. The company is working to file a Precise Plan for Phase 1 of the development, and it expects the City of Tehachapi to approve it in Q2 2023. Such approval is required before the company can apply for the permits needed to commence construction.
Pre-construction and permitting activities for Phase 1, which is planned to comprise 144 residential units (consisting of a mix of single-family homes, townhomes, cottage homes and apartments covering a total of 227,858 square feet, or SF), are targeted to be completed by the end of December 2022. Assuming that the company’s Phase 1 Precise Plan is submitted and approved in accordance with its expectations, grading, storm, sewer and water permits for Phase 1 are anticipated to be received by August 1, 2023.
Assuming that the development of the Sage Ranch real estate project is advanced in accordance with the anticipated timeline summarized above, the company expects that the first sales of units will take place during the year ending December 31, 2024.
Marketing and Sales
The company has pre-marketed Sage Ranch to potential buyers. Once final development approvals are received, the company will enter into purchase contracts with buyers and construction will commence only after a purchase agreement has been executed. The company will apply for approval from the California Department of Real Estate to accept non-refundable deposits once all development approvals are acquired.
Alberta Solar Projects
Ridge Utilities Solar Project
On January 25, 2021, the company announced that it, acting through its subsidiary Greenbriar Capital Corp. Alberta, had entered into a marketing partnership with Ridge Utilities Ltd. (Ridge). The partnership will see the company support the development of microgeneration capacity for numerous commercial and agricultural sites across southern Alberta, while Ridge Utilities will provide retail customers with access to preferential energy pricing through its ‘Solar Club’.
Ridge Utilities offers exclusive solar club electricity rates for micro-generators who are on a bi-directional cumulative meter. Solar Club members can switch between these two rates at any time with just a 10-day notice, penalty free to accommodate seasonal generation fluctuations. Solar club members can also earn 5% cash back on all energy imported from the grid on an annual basis.
The company will design, finance, build, own, and operate the multiple microgeneration facilities and maintain and manage the operation for at least 20 years. Greenbriar will finance the projects at the project level and will be non-dilutive to Greenbriar Shareholders.
West Lake Solar Project
On November 16, 2021, the company executed an agreement for long-term solar energy supply with West Lake Energy Corp (West Lake), a privately-owned independent Canadian oil and gas producer based in Calgary, Alberta. Under the agreement's terms Greenbriar will build, own, and operate 90MW AC of solar energy production with the first solar site having a capacity for 30MW AC. West Lake agrees to purchase all solar power generated from the project and has the option to purchase from the second site, which will provide the remaining 60MW AC. The first solar sites for the West Lake Solar Project are being evaluated, with some being in the early stages of evaluation and others in very advanced stages. Selection of the first site is expected to be completed during Q1 2024.
The company’s subsidiary, Greenbriar Alberta has entered into a long-term solar energy supply agreement with West Lake, pursuant to which the company is to build, own and operate two solar energy production facilities.
The company is reviewing several sites in Alberta for potential development as the first of the two facilities that will comprise the West Lake Solar Project. Selection of the first site is expected to be completed during the first quarter of 2022, with evaluation to follow. If the results of the evaluation are favourable, the company will be able to commence design work for the first site, which it anticipates can be completed during the balance of the year ending December 31, 2024.
Montalva Solar Project
The Montalva Solar Farm Project (the Montalva Solar Project) is a proposed solar and battery photovoltaic (PV) renewable solar electricity generating facility, to be located in the municipalities of Guanica and Lajas, Puerto Rico. At full buildout, the Montalva Solar Project will be an innovative (very high direct current (DC) to alternating current (AC) ratio) 395 megawatt (MW) DC and 165 MW AC PV station covering approximately 1,800 cuerdas (1,747 acres). The station will include a battery storage facility for up to four hours of evening and nighttime energy delivery.
The company’s plan calls for the Montalva Solar Project to be built in multiple phases, with the initial phase being for 160 MW DC (to be produced by the solar panels) and, after conversion, 80 MW AC. Upon completion of the initial phase, the station is expected to be capable of producing approximately 280,000,000 kilowatt hours of energy per year - enough power for at least 30,000 homes. The company expects that commercial operations could commence a few weeks after completion of the construction of the facility.
The initial phase of the Montalva Solar Project would be developed under the PPOA between the company and PREPA dated May 28, 2020. The PPOA has a 25-year term that would start on the commencement of commercial operations, with options to extend the agreement by mutual agreement for two additional five-year terms (for a total term of up to 35 years). The agreement additionally provides for increases in the power generating capacity by mutual agreement of the parties.
On February 26, 2021, the FOMB approved two projects and excluded the approval of the Montalva Solar Project. The company has submitted a new application to the FOMB to approve the Montalva Solar Project, and the company and the FOMB are working to resolve the outstanding issues before the Puerto Rico Energy Bureau.
Located in southwest Puerto Rico in the Municipalities of Guanica and Lajas adjacent to State Highway 116, the Montalva Solar Project will be located approximately four miles west of the city of Guanica and three miles west of the city of Ensenada.
The Montalva Solar Project is being developed on adjacent parcels of land totaling approximately 1,800 cuerdas (1,747 acres) that are covered by the Montalva and Laja Option Agreements. The site consists of three segments comprising a segment located in the Municipality of Guanica just east of the dividing line separating the Municipalities of Guanica and Lajas, consisting of approximately 555 cuerdas; a segment located in the Municipality of Lajas adjacent to and west of the segment above and just west of the dividing line separating the Municipalities of Guanica and Lajas, consisting of approximately 720 cuerdas; and a segment located in the Municipality of Lajas adjacent to and north of the segment above in the Municipality of Lajas, consisting of approximately 524 cuerdas.
Since entering into the Montalva and Lajas Option Agreements, the company has negotiated extensions of the terms of the agreements several times. The option agreements were to have expired on December 30, 2021, but have been extended to December 20, 2023.
The Montalva Solar Project is being designed as a fixed-tilt solar field using state-of-the-art commercially available PV panels rated at approximately 400-450 watts DC at 1500 volts and 20.6% efficiency (Jinko Tallman TSM-DE17M(II) or equivalent). In addition to the solar panels and racking support system, the project is being designed incorporating commercially available equipment consisting of inverters, step-up transformers, combiner boxes, DC and AC cabling, collector substation, switchgear, circuit protection devices, substation transformer, interconnection switchyard, and associated equipment. The commercially available equipment will be made subject to performance guarantees and long term warranties for the electrical design and delivery of grid quality power to the PREPA electrical system. The Montalva Solar Project will connect to the existing 115 kV PREPA transmission line that traverses the site to feed power to the Puerto Rican electrical grid.
PBJL has conducted extensive environmental, cultural, and archaeological studies and surveys of the project sites and prepared an Environmental Impact Statement (EIS) delineating the environmental setting, the existing socioeconomic setting and the potential construction and operational impacts of a total project size of 395 MW DC. The EIS likewise incorporated mitigation measures to compensate for impacts to flora and fauna and from activities associated with construction and operation of Montalva.
In addition to the environmental surveys conducted and the EIS prepared, Greenbriar acquired PBJL Energy Company (PBJL) has completed ALTA (American Land Title Association) surveys of both sites and has conducted a preliminary geotechnical investigation together with site borings.
Principal ownership of Montalva will remain with Greenbriar and will be operated by Greenbriar or its direct subsidaries.
The Montalva Projects' principal regulator is the Puerto Rico Energy Bureau. It is the designated regulator to resolve any conflicts between the project and PREPA.
History
The company was incorporated under the laws of the province of British Columbia, Canada in 2009. It was formerly known as Greenbriar Capital Corp. and changed its name to Greenbriar Sustainable Living Inc. in January 2023.
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