Greenbriar Capital TSXV:GRB, www.greenbriarcapital.com

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2 weeks 1 day ago #125224 by lynnsa10
lynnsa10 replied the topic: Greenbriar Capital TSXV:GRB, www.greenbriarcapital.com
Strong news out of Puerto Rico - Atco and Quanta awarded 15 year contract

Puerto Rico power company gives T&D reins to private firms AP - 23 mins ago SAN JUAN, Puerto Rico (AP) Puerto Rico officials said Monday that a consortium of Canadian and U.S. firms will take over the transmission and distribution system of the islands public power company in a long-awaited announcement involving one of the largest public utilities in a U.S. jurisdiction. The deal marks the first time those operations will be privately managed since Puerto Ricos Electric Power Authority was founded in 1941 and became a public utility in 1979, raising hopes that a company long accused of corruption, mismanagement and inefficiency could be reformed and modernized, leading to fewer outages and improved service.

You have a titanic challenge before you, said Omar Marrero, executive director of Puerto Ricos Fiscal Agency and Financial Advisory Authority. The message was directed to LUMA, a consortium made up of Canadian firm ATCO Ltd. and U.S.-based companies Quanta Services Inc. and IEM. It was awarded a multimillion-dollar contract for 15 years that will allow the islands power company to retain ownership of the transmission and distribution system as part of a public-private partnership, the third for Puerto Rico in recent years.

We understand the significance of this announcement, said Wayne Stensby, LUMAs president and CEO, who promised to deliver a modern, affordable and reliable system. This is not our first rodeo. The company will initially be paid $70 million followed by $90 million the second year and $100 million the third year as part of a contract approved by a federal control board that oversees Puerto Ricos finances. It will receive $105 million for each of the remaining years, with a possible $20 million total in bonuses. The contract does not call for an increase in rates, which will require approval by Puerto Ricos Energy Commission, said Fermn Fontans, executive director of Puerto Ricos Public-Private Partnerships Authority.

LUMA was chosen over Duke Energy and PSEG Services. Aside from transmission and distribution, LUMA also will be responsible for areas including billing and collection, capital improvements and human resources. The Electric Power Authority serves 1.47 million clients across Puerto Rico and reports $3.5 billion in customer revenues. However, multiple problems including a lack of maintenance has led to an average of 4.5 interruptions a year for clients, compared with an industry average of 0.98 interruptions. In addition, customers see an average outage time of more than 12 hours a year, compared with a baseline of less than two hours, said Fontans said. In addition, the power company's infrastructure is three times older than the industry average.

Fontans acknowledged that many customers see much higher numbers than the averages he presented, especially after Hurricane Maria struck the island in September 2017 as a Category 4 storm and shredded the power grid. It took 11 months for the last customers to be reconnected after the storm, outages remain common and reconstruction has yet to start. But problems began even before the storm struck, with an island-wide power outage occurring in September 2016.

Fontans said a public-private partnership will allow Puerto Ricos government to keep receiving federal funds as it rebuilds from hurricanes Irma and Maria. Mondays announcement comes two years after former Gov. Ricardo Rossell signed a bill that in part allows the government to create public-private partnerships for the transmission and distribution of power. Government officials said the deal will help generate money needed for infrastructure projects the government cannot afford amid a deep economic crisis as it restructures a portion of its more than $70 billion public debt load. The power company has one of the highest debts of any Puerto Rico government agency at more than $9 billion, leading it to declare bankruptcy in 2017.

It is still undergoing a restructuring process. The privatization of the operations of the transmission and distribution system is expected to take up to a year, with LUMA pledging it can reduce annual system energy costs by $150 million. Government officials said power company workers will receive priority and that none will be laid off. Puerto Ricos two other public-private partnerships involve its main international airport and its highway tolls.

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2 weeks 1 day ago #125213 by Gambler
Gambler replied the topic: Greenbriar Capital TSXV:GRB, www.greenbriarcapital.com
Checked short volume today as of June 15th, stock was heavily shorted on rally higher.

Attachments:

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1 month 2 days ago #125160 by mozrep
mozrep replied the topic: Greenbriar Capital TSXV:GRB, www.greenbriarcapital.com
What does Ron S. think? Do we buy back in now or do we wait?

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1 month 3 days ago #125159 by alexgreat
alexgreat replied the topic: Greenbriar Capital TSXV:GRB, www.greenbriarcapital.com
What a ride, I sold some and now thinking of buying back last at $2.50

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1 month 5 days ago #125149 by GoldnBoy
GoldnBoy replied the topic: Greenbriar Capital TSXV:GRB, www.greenbriarcapital.com
Did not sell any, by the time I saw Struthers update, the stock was down, Still sitting on a large profit though

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1 month 5 days ago #125147 by lynnsa10
lynnsa10 replied the topic: Greenbriar Capital TSXV:GRB, www.greenbriarcapital.com
Greenbriar Capital halted at 7:25 a.m. PT

Greenbriar Capital Corp (C:GRB)
Shares Issued 22,287,397
Last Close 6/1/2020 $3.99
Tuesday June 2 2020 - Halt Trading

Greenbriar Capital Corp. has been halted at 7:25 a.m. PT on June 2, 2020, by a single-stock circuit breaker.

Halt probably added to the sell off?

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1 month 5 days ago #125146 by lynnsa10
lynnsa10 replied the topic: Greenbriar Capital TSXV:GRB, www.greenbriarcapital.com
I took some profits yesterday, it was looking like I was too early, not some much now.
Maybe will buy back the position?? This is up on streetwise about Greenbriar

www.streetwisereports.com/article/2020/0...solar-agreement.html

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1 month 5 days ago #125145 by Gambler
Gambler replied the topic: Greenbriar Capital TSXV:GRB, www.greenbriarcapital.com
I took some profits this morning at $4.30, seems the whole market got Struthers profit alert, what a quick drop - now $3.38

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1 month 6 days ago #125144 by alexgreat
alexgreat replied the topic: Greenbriar Capital TSXV:GRB, www.greenbriarcapital.com
Thanks RonS, stock up big this morning again. I bought more on your strong buy May 18 average cost is $1.32

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1 month 1 week ago #125140 by RonS
RonS replied the topic: Greenbriar Capital TSXV:GRB, www.greenbriarcapital.com
Stock moving nicely, maybe this coverage is part of the reason, in Chinese but some of the slides are English

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1 month 1 week ago #125118 by lynnsa10
lynnsa10 replied the topic: Greenbriar Capital TSXV:GRB, www.greenbriarcapital.com
Another good start today, $1,67, the stock is breaking into new all time highs

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1 month 2 weeks ago #125101 by GoldnBoy
GoldnBoy replied the topic: Greenbriar Capital TSXV:GRB, www.greenbriarcapital.com
Another nice move this week. I added to my old position. Finally this story is coming to reality

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