SolarBank Corp. Advances 6.9 MW Community Solar Project in Nova Scotia
TL;DR
SolarBank (NASDAQ: SUUN) to develop 6.9 MW DC Brooklyn solar project in Nova Scotia, tapping into Canada's Community Solar Program for a strategic advantage.
SolarBank will handle interconnection, permitting, and design until 2025, with construction set to start in spring 2026, ensuring a meticulous project execution.
SolarBank's project supports Nova Scotia's goal of 80% renewable energy by 2030 and net-zero by 2035, contributing to a sustainable and cleaner future for all.
SolarBank disclosed a shares-for-services agreement worth up to $100,000 USD per month, emphasizing innovative growth strategies and financial milestones.
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SolarBank Corporation is set to develop a 6.9 MW DC solar project in Brooklyn, Nova Scotia, marking a significant step in the province's renewable energy transition. The $13.9 million project, owned by AI Renewable Fund and developed in partnership with Trimac Engineering, will contribute to Nova Scotia's ambitious goal of reaching 80% renewable energy by 2030 and achieving net-zero emissions by 2035.
The project represents a strategic investment in clean energy infrastructure, with SolarBank managing interconnection, permitting, and design through 2025. Construction is expected to commence in spring 2026, signaling a long-term commitment to sustainable energy development in the region.
In addition to the solar project, SolarBank disclosed a shares-for-services agreement with an independent advisor, valued at up to $100,000 USD per month. This arrangement is tied to strategic growth and advisory milestones, indicating the company's focus on expanding its renewable energy portfolio.
The Brooklyn solar project underscores the growing importance of community solar initiatives in Canada's transition to clean energy. By supporting local renewable infrastructure, SolarBank is helping to diversify the energy landscape and reduce carbon emissions while providing economic opportunities for local communities.
Curated from InvestorBrandNetwork (IBN)
