PowerBank Corporation Secures $1.74 Million for Nova Scotia Community Solar Projects

PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) announced that its Sydney, Brooklyn, and Petpeswick Community Solar projects in Nova Scotia have been granted $1.74 million in funding through the Nova Scotia Department of Environment and Climate Change, provided by the Nova Scotia Department of Energy and managed by the Net Zero Atlantic program. Net Zero Atlantic, a research organization supporting the energy transition, aims to help Atlantic Canada achieve carbon neutrality by 2050. Under the grant, PowerBank will receive $340,000 for the Sydney Solar Project, $440,000 for the Petpeswick Solar Project, and $960,000 for the Brooklyn Solar Project.

The projects are 48% owned by AI Renewable Flow-through Fund and 52% owned by a non-profit organization or Potlotek First Nation. PowerBank is the lead developer and builder, working with Trimac Engineering to deliver the projects. With more than 50 MW of community solar completed in the United States, PowerBank is now applying its expertise to Canada’s emerging community solar market. This funding represents a significant step forward in expanding renewable energy infrastructure in Nova Scotia and demonstrates the growing commitment to sustainable energy solutions in the region.

The investment in these community solar projects is crucial for advancing renewable energy adoption and reducing carbon emissions in Atlantic Canada. Community solar projects allow multiple participants to benefit from a single solar array, making renewable energy more accessible to residents and businesses who may not be able to install their own solar panels. This approach helps democratize access to clean energy and supports local economic development by creating jobs and stimulating investment in green technology.

PowerBank Corporation is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the USA. The Company develops solar and Battery Energy Storage System (BESS) projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. The Company maximizes returns via a diverse portfolio of projects across multiple leading North America markets including projects with utilities, host off-takers, community solar, and virtual net metering projects. The Company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built. For additional details, please refer to https://ibn.fm/oXSZ2.