PowerBank expects interconnection results for Nova Scotia solar projects

PowerBank Corporation (NASDAQ: SUUN) announced it expects to receive interconnection results within 30 days for three community solar projects in Nova Scotia. The projects are located in Sydney, Brooklyn, and West Petpeswick.

If interconnection results are positive and the projects prove financially feasible, PowerBank expects to begin construction in spring 2026. The company serves as lead developer and builder for the projects, which are owned by AI Renewable Flow-through Fund.

The three projects have a combined capacity of approximately 12.4 MW DC and would generate 14,369 MWh of clean energy annually, equivalent to powering 1,140 homes. PowerBank states the projects would generate $6.95 million in electricity savings for local communities over their lifetimes.

The projects are part of Nova Scotia's initiative to achieve 80% renewable energy by 2030 and net-zero by 2035. They represent three of only four community solar contracts awarded under the program so far, contributing to a planned 100 MW AC of solar additions in the province.

Community solar allows residents and businesses to subscribe to solar farms and receive bill credits of $0.02 per kWh without installing rooftop equipment. PowerBank will partner with Nova Scotia engineering firm Trimac Engineering on the projects.

The company has completed over 100 MW of projects and maintains a development pipeline exceeding 1 GW. PowerBank previously developed over 50 MW of community solar projects in the United States.

The press release noted several risks associated with project development, including requirements for interconnection approval, permits, third-party financing, and potential changes to government incentive programs.

You May Also Be Interested In

• Goldman Sachs Upgrades New Oriental Education (EDU) to Buy
• Adobe CFO Dan Durn to depart company in June 2026
• Goldman Sachs Upgrades New Oriental Education & Technology Group (9901:HK) (EDU) to Buy