PowerBank clears final permit for C$14M Nova Scotia solar project

PowerBank Corporation (Nasdaq: PBK) has received final environmental approval for its 6.86 MW Brooklyn ground-mounted community solar project in Nova Scotia, with construction expected to begin in fall 2026.

The project carries a total estimated development and construction cost of C$14 million and is backed by C$4.55 million in combined grants and tax credits. This includes up to C$2.639 million through the federal Clean Technology Investment Tax Credit, a C$960,000 grant from Net Zero Atlantic, and a C$960,000 grant from the federal Smart Renewables and Electrification Pathways Program, announced in August 2025.

The project is owned and funded by AI Renewable Flow-through Fund. PowerBank serves as lead developer and says it requires no capital outlay from the company, earning development revenue instead.

Over its lifetime, the project is expected to generate approximately C$3.86 million in electricity savings for subscribers in Annapolis Valley, Nova Scotia, and power the equivalent of 628 homes annually. Subscribers receive bill credits of C$0.02 per kWh without installing equipment.

Brooklyn is one of four community solar contracts awarded under Nova Scotia's program, contributing 6.86 MW toward a planned 100 MW AC solar addition. It is also one of three PowerBank-developed community solar projects in Nova Scotia totaling approximately 12.44 MW DC, alongside the 3.15 MW Petpeswick and 2.43 MW Sydney projects. PowerBank has partnered with Trimac Engineering for project delivery.

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