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Westbridge Energy ( (TSE:WEB) ) just unveiled an update.
Westbridge Renewable Energy Corporation reported strong financial results for 2024, with $99 million in gross cash proceeds from project sales and a robust cash position to drive future growth. The company has retained full ownership of its Alberta projects, representing 1.8 GW of solar and BESS capacity, and is exploring new strategic partnerships. Westbridge’s expansion into Ontario with three secured solar projects marks a significant milestone, adding approximately 500 MWdc to its development portfolio and enhancing its role in the clean energy transition.
Spark’s Take on TSE:WEB Stock
According to Spark, TipRanks’ AI Analyst, TSE:WEB is a Neutral.
Westbridge Energy’s overall score is driven by its undervalued stock price and positive corporate events, such as significant sales and portfolio expansion. However, the company’s financial performance is weak, with no revenue generation and high liabilities, which poses risks. Technical indicators suggest short-term bullish momentum but caution due to overbought conditions.
To see Spark’s full report on TSE:WEB stock, click here.
More about Westbridge Energy
Westbridge Renewable Energy Corporation is a leading renewable energy development company focused on utility-scale solar photovoltaic (PV) and battery energy storage system (BESS) projects. The company operates primarily in Canada and has recently expanded its portfolio into Ontario, reinforcing its position as a key player in North America’s renewable energy sector.
Average Trading Volume: 36,640
Technical Sentiment Signal: Buy
Current Market Cap: C$80.84M
Find detailed analytics on WEB stock on TipRanks’ Stock Analysis page.