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

PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) has secured $1.74 million in funding for its Sydney, Brooklyn, and Petpeswick Community Solar projects in Nova Scotia through the Nova Scotia Department of Environment and Climate Change. The funding, managed by the Net Zero Atlantic program, represents a significant investment in renewable energy infrastructure that supports Atlantic Canada's goal of achieving carbon neutrality by 2050.

The grant allocation includes $340,000 for the Sydney Solar Project, $440,000 for the Petpeswick Solar Project, and $960,000 for the Brooklyn Solar Project. These projects are structured with 48% ownership by AI Renewable Flow-through Fund and 52% ownership by either a non-profit organization or the Potlotek First Nation, demonstrating a collaborative approach to community energy development. PowerBank serves as the lead developer and builder, partnering with Trimac Engineering to ensure successful project delivery.

This funding announcement carries substantial implications for Nova Scotia's energy landscape and the broader renewable energy sector. The projects will contribute to local energy independence, reduce carbon emissions, and create economic opportunities through job creation and community investment. For residents and businesses in the region, these solar installations will provide access to clean, affordable electricity while supporting provincial climate goals. The involvement of First Nations and non-profit organizations ensures that benefits are distributed equitably within communities.

PowerBank brings extensive experience to these projects, having completed more than 50 MW of community solar capacity in the United States. The company's expansion into Canada's emerging community solar market signals growing investor confidence in renewable energy infrastructure and demonstrates the scalability of community solar models across North American markets. As an independent renewable and clean energy project developer, PowerBank focuses on distributed solar and Battery Energy Storage System (BESS) projects that serve utilities, commercial, industrial, municipal, and residential customers.

The successful securing of this funding through https://ibn.fm/LGh48 highlights the effectiveness of public-private partnerships in accelerating renewable energy adoption. It also underscores the importance of programs like Net Zero Atlantic in facilitating the transition to sustainable energy systems. For investors and industry observers, this development represents continued momentum in the renewable energy sector and demonstrates how government support can catalyze private investment in critical infrastructure projects.