PowerBank Corporation Secures $1.74 Million Grant for Nova Scotia Community Solar Projects
TL;DR
PowerBank Corporation secured $1.74 million in government funding to develop three solar projects, enhancing its competitive position in renewable energy across North America.
The funding from Nova Scotia's Department of Energy is managed by Net Zero Atlantic and supports three projects generating 12.4 MW DC of clean electricity.
These community solar projects advance Nova Scotia's renewable energy goals, contributing to a cleaner environment and sustainable future for local communities.
PowerBank's Sydney, Brooklyn, and Petpeswick projects are part of Canada's first Community Solar Program, generating clean energy for the local grid.
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PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2), a leading developer and owner of renewable energy projects, has secured $1.74 million in government funding to support three community solar initiatives in Nova Scotia. The funding, provided by Nova Scotia's Department of Energy and managed by Net Zero Atlantic, will advance the Sydney, Brooklyn, and Petpeswick projects, which are expected to generate a combined 12.4 megawatts of direct current electricity upon completion.
The projects represent a significant step forward in Nova Scotia's clean energy transition and are part of Canada's first Community Solar Program, which aims to achieve 80% renewable energy by 2030. As the lead developer, PowerBank is working alongside local partner Trimac Engineering to ensure the successful implementation of these initiatives. The generated clean power will be fed directly into the local grid, reducing reliance on fossil fuels and contributing to regional energy independence.
This funding announcement underscores the growing importance of community-based renewable energy projects in meeting climate goals and supporting sustainable development. The projects align with broader national and provincial strategies to decarbonize the energy sector while creating local economic opportunities. Community solar programs allow residents and businesses to benefit from solar energy without installing panels on their own properties, making renewable energy more accessible to diverse communities.
PowerBank's extensive experience in renewable energy development positions the company as a key player in North America's clean energy transition. The company has completed over 100 megawatts of projects and maintains a development pipeline exceeding 1 gigawatt across Canada and the United States. This track record demonstrates PowerBank's capability to deliver large-scale renewable energy infrastructure that meets both environmental and economic objectives.
The implications of this funding extend beyond immediate project development, potentially serving as a model for other provinces and territories seeking to implement similar community solar initiatives. The success of these projects could accelerate the adoption of distributed energy resources across Canada, contributing to grid resilience and energy security while reducing greenhouse gas emissions. Additional information about PowerBank's developments can be found at https://ibn.fm/e9gKm.
Curated from InvestorBrandNetwork (IBN)
