PowerBank Provides Progress Update on Three Community Solar Projects in Nova Scotia
PowerBank (NASDAQ: SUUN) has provided an update on three Community Solar projects in Nova Scotia, located in Sydney, Brooklyn, and West Petpeswick. The projects, totaling 12.4 MW DC, are expected to receive interconnection results within 30 days, with construction potentially starting in Spring 2026.
The projects will generate 14,369 MWh of clean energy annually, powering the equivalent of 1,140 homes and reducing CO2 emissions by approximately 10,058 tonnes. Over their lifetime, the projects are expected to generate up to $6.95 Million in electricity savings for local communities, offering subscribers bill credits of $0.02/kWh.
These initiatives are part of Nova Scotia's commitment to achieve 80% renewable energy by 2030 and represent one of only four community solar contracts awarded under the program.
PowerBank (NASDAQ: SUUN) ha fornito un aggiornamento su tre progetti di Community Solar in Nuova Scozia, situati a Sydney, Brooklyn e West Petpeswick. I progetti, per un totale di 12,4 MW DC, dovrebbero ricevere i risultati di interconnessione entro 30 giorni, con la costruzione che potrebbe iniziare nella primavera del 2026.
I progetti produrranno 14.369 MWh di energia pulita all'anno, alimentando l'equivalente di 1.140 case e riducendo le emissioni di CO2 di circa 10.058 tonnellate. Nel corso della loro vita, i progetti dovrebbero generare fino a $6,95 milioni di risparmi energetici per le comunità locali, offrendo agli abbonati crediti sulla bolletta di $0,02/kWh.
Queste iniziative fanno parte dell'impegno della Nuova Scozia di raggiungere l'80% di energia rinnovabile entro il 2030 e rappresentano uno dei soli quattro contratti di community solar assegnati nel programma.
PowerBank (NASDAQ: SUUN) ha brindado una actualización sobre tres proyectos de Community Solar en Nueva Escocia, ubicados en Sydney, Brooklyn y West Petpeswick. Los proyectos, que suman 12,4 MW DC, se espera que reciban los resultados de interconexión dentro de 30 días, con la construcción potencialmente iniciando en la primavera de 2026.
Los proyectos generarán 14.369 MWh de energía limpia anualmente, alimentando el equivalente de 1.140 hogares y reduciendo las emisiones de CO2 en aproximadamente 10.058 toneladas. A lo largo de su vida útil, se espera que los proyectos generen hasta $6,95 millones en ahorros de electricidad para las comunidades locales, ofreciendo a los suscriptores créditos en la factura de $0,02/kWh.
Estas iniciativas forman parte del compromiso de Nueva Escocia de lograr un 80% de energía renovable para 2030 y representan uno de solo cuatro contratos de community solar adjudicados bajo el programa.
PowerBank (NASDAQ: SUUN)은 노바스코샤 주의 사이드니(Sydney), 브루클린(Brooklyn), 웨스트 페트페스윅(West Petpeswick)에 위치한 세 개의 커뮤니티 솔라 프로젝트에 대한 업데이트를 제공했습니다. 총 12.4 MW DC인 이 프로젝트들은 30일 이내에 송전 연결 결과를 받게 될 것이며, 건설은 2026년 봄에 시작될 수 있습니다.
이 프로젝트들은 연간 14,369 MWh의 청정 에너지를 생성하여 1,140가구에 전력을 공급하고 CO2 배출량을 약 10,058톤 줄일 것입니다. 수명 동안 이 프로젝트들은 지역 사회를 위한 전력 비용 절감으로 최대 $6.95백만의 혜택을 창출하고 구독자에게는 $0.02/kWh의 청구 크레딧을 제공할 것입니다.
이 발전들은 노바스코샤의 2030년까지 재생 에너지 비중 80% 달성 목표의 일부이며, 이 프로그램에서 수여된 커뮤니티 솔라 계약 중 단 4건 중 하나를 차지합니다.
PowerBank (NASDAQ: SUUN) a donné une mise à jour sur trois projets d’énergie communautaire solaire en Nouvelle-Écosse, situés à Sydney, Brooklyn et West Petpeswick. Les projets, totalisant 12,4 MW DC, devraient obtenir les résultats d’interconnexion dans les 30 jours, avec une construction potentielle débutant au printemps 2026.
Les projets généreront 14.369 MWh d’énergie propre annuellement, alimentant l’équivalent de 1.140 foyers et réduisant les émissions de CO2 d’environ 10.058 tonnes. Sur leur durée de vie, les projets devraient permettre des économies d’électricité allant jusqu’à $6,95 millions pour les communautés locales, offrant aux abonnés des crédits de facture de $0,02/kWh.
Ces initiatives s’inscrivent dans l’engagement de la Nouvelle-Écosse d’atteindre 80% d’énergie renouvelable d’ici 2030 et représentent l’un des seulement quatre contrats d’énergie solaire communautaire attribués dans le cadre du programme.
PowerBank (NASDAQ: SUUN) hat ein Update zu drei Community-Solar-Projekten in Nova Scotia gegeben, die in Sydney, Brooklyn und West Petpeswick liegen. Die Gesamtsumme der Projekte beträgt 12,4 MW DC und es wird erwartet, dass innerhalb von 30 Tagen Ergebnisse zur Netz-Anbindung vorliegen, wobei der Baubeginn möglicherweise im Frühjahr 2026 erfolgt.
Die Projekte werden jährlich 14.369 MWh saubere Energie erzeugen und damit 1.140 Haushalte mit Strom versorgen sowie CO2-Emissionen um ca. 10.058 Tonnen senken. Über ihre Lebensdauer hinweg wird erwartet, dass die Projekte bis zu $6,95 Millionen an Stromeinsparungen für lokale Gemeinschaften erzielen und Abonnenten Stromrechnungs-gutschriften von $0,02/kWh erhalten.
Diese Initiativen sind Teil des Ziels von Nova Scotia, bis 2030 80% erneuerbare Energie zu erreichen, und repräsentieren eines von nur vier Community-Solar-Verträgen, die im Programm vergeben wurden.
PowerBank (NASDAQ: SUUN) قدمت تحديثاً حول ثلاثة مشاريع للطاقة الشمسية المجتمعية في نوفا سكوتيا، الواقعة في سيدني وبروكلين وWest Petpeswick. الإجمالي 12.4 MW DC من المشاريع، من المتوقع أن تحصل على نتائج التوصيل خلال 30 يوماً، مع احتمال بدء البناء في ربيع 2026.
المشاريع ستولّد 14,369 MWh من الطاقة النظيفة سنوياً، تغذي ما يعادل 1,140 منزل وتقلل انبعاثات CO2 بنحو 10,058 طن. على مدى عمرها، من المتوقع أن تولّد المشاريع حتى $6.95 مليون من وفورات الكهرباء للمجتمعات المحلية، وتقدم للمشتركين اعتمادات فواتير بمقدار $0.02/kWh.
هذه المبادرات هي جزء من التزام نوفا سكوشا بتحقيق 80% من الطاقة المتجددة بحلول 2030 وتمثل واحداً من أربعة عقود للطاقة الشمسية المجتمعية الممنوحة ضمن البرنامج.
PowerBank (NASDAQ: SUUN) 已就新斯科舍省的三个社区太阳能项目更新情况，这些项目位于悉尼、布鲁克林和西佩特佩斯维克。项目总计 12.4 MW DC，预计将在30天内获得并网结果，施工可能在2026年春季开始。
这些项目每年将产生 14,369 MWh 的清洁能源，供电相当于 1,140户家庭，并将 CO2 排放量降低大约 10,058 吨。在其生命周期内，项目预计将为当地社区带来高达 $6.95 Million 的电力节省，为订阅者提供每千瓦时 $0.02 的账单抵扣。
这些举措是新斯科舍省承诺在2030年前实现80%可再生能源目标的一部分，也是该计划中授予的四份社区太阳能合同之一。
- Projects will generate up to $6.95 Million in electricity savings for local communities
- Company has proven track record with over 100 MW of projects built and 1+ GW development pipeline
- One of only four community solar contracts awarded under Nova Scotia's program
- Project will contribute 12.4 MW DC to Nova Scotia's renewable energy goals
- Multiple government incentives support the projects including SREPs program
- Interconnection approval still pending and not guaranteed
- Construction not expected to start until Spring 2026
- Project development subject to various risks including permit approvals and third-party financing
- Government incentives may be revised, reduced or eliminated affecting project economics
Insights
PowerBank advances three Nova Scotia solar projects representing significant clean energy expansion with interconnection decisions expected within 30 days.
PowerBank's three community solar projects in Nova Scotia represent a strategic advancement in Canada's renewable energy landscape. The Sydney, Brooklyn, and West Petpeswick installations, totaling 12.4 MW DC, are approaching a critical milestone with interconnection results expected within 30 days, potentially leading to construction in Spring 2026.
These projects demonstrate PowerBank's ability to leverage its U.S. expertise (50+ MW of community solar completed) into the emerging Canadian market. The company's role as lead developer and builder, in partnership with local firm Trimac Engineering, positions it to capture both development fees and construction revenue while establishing a footprint in Nova Scotia's ambitious renewable energy program.
The financial and environmental metrics are substantial: $6.95 million in projected electricity savings for local communities, 14,369 MWh of annual clean energy production (powering equivalent of 1,140 homes), and carbon reduction equivalent to removing 3,081 passenger vehicles from the road.
What's particularly notable is the project's alignment with Nova Scotia's 80% renewable energy by 2030 target. Being among only four community solar contracts awarded under the program positions PowerBank advantageously in a government-supported growth market with multiple incentive programs available. The subscription model, offering $0.02/kWh savings without equipment installation requirements, creates an accessible path to clean energy adoption for diverse participants including renters and businesses.
While the project timeline points to near-term revenue potential, investors should note the disclosed risks: interconnection approval, community solar contract finalization, permit acquisition, financing arrangements, and potential policy changes that could affect project economics.
- Projects to Power a Combined Equivalent of 1,140 Homes Annually
- Part of
Nova Scotia 's Ambitious80% Renewable Energy by 2030 Initiative - Enables Residents and Businesses to Access Solar Without Rooftop Installation
- Projects to Provide a Total of Approximately 14,369 MWh of Clean Energy to the Province Annually, Equivalent to Removing Approximately 10,058 Tonnes of CO2 Emissions and 3,081 Passenger Vehicles from the Road
The Projects are owned by AI Renewable Flow-through Fund and PowerBank is the lead developer and builder for the Projects. PowerBank will partner with local
Over the Projects lifetimes, they will be generating up to a combined
The Canadian Federal government and the Province of
Community solar is a cornerstone of
Unlike traditional rooftop systems, community solar allows renters, businesses, and homeowners to subscribe to the solar farm and receive bill credits and savings of
The Projects leverage PowerBank's proven execution capabilities and strategic partnerships. With over 100 MW of projects built and a 1+ GW development pipeline, PowerBank brings institutional-grade development expertise to
There are several risks associated with the development of the Projects. The development of any project is subject to receipt of interconnection approval, a community solar contract, receipt of required permits, the availability of third-party financing arrangements for the Company and the risks associated with the construction of a solar power project. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar power, which could result in the Projects no longer being economic. Please refer to "Forward-Looking Statements" for additional discussion of the assumptions and risk factors associated with the Project and statements made in this press release.
About PowerBank Corporation
PowerBank Corporation is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. In particular and without limitation, this news release contains forward-looking statements pertaining to the Company's expectations regarding its industry trends and overall market growth; the Company's growth strategies the expected energy production from the solar power projects mentioned in this press release; the number of homes expected to be powered; the timeline for construction; the expected savings for local residents; the receipt of interconnection permits and financing to be able to construct the Project; the receipt of incentives for the Project; and the size of the Company's development pipeline. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties. In making the forward looking statements included in this news release, the Company has made various material assumptions, including but not limited to: obtaining the necessary regulatory approvals; that regulatory requirements will be maintained; general business and economic conditions; the Company's ability to successfully execute its plans and intentions; the availability of financing on reasonable terms; the Company's ability to attract and retain skilled staff; market competition; the products and services offered by the Company's competitors; that the Company's current good relationships with its service providers and other third parties will be maintained; and government subsidies and funding for renewable energy will continue as currently contemplated. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and the Company cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking statements.
Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including those listed under "Forward-Looking Statements" and "Risk Factors" in the Company's most recently completed Annual Information Form, and other public filings of the Company, which include: the Company may be adversely affected by volatile solar power market and industry conditions; the execution of the Company's growth strategy depends upon the continued availability of third-party financing arrangements; the Company's future success depends partly on its ability to expand the pipeline of its energy business in several key markets; governments may revise, reduce or eliminate incentives and policy support schemes for solar and battery storage power; general global economic conditions may have an adverse impact on our operating performance and results of operations; the Company's project development and construction activities may not be successful; developing and operating solar Project exposes the Company to various risks; the Company faces a number of risks involving Power Purchase Agreements ("PPAs") and project-level financing arrangements; any changes to the laws, regulations and policies that the Company is subject to may present technical, regulatory and economic barriers to the purchase and use of solar power; the markets in which the Company competes are highly competitive and evolving quickly; an anti-circumvention investigation could adversely affect the Company by potentially raising the prices of key supplies for the construction of solar power projects; foreign exchange rate fluctuations; a change in the Company's effective tax rate can have a significant adverse impact on its business; seasonal variations in demand linked to construction cycles and weather conditions may influence the Company's results of operations; the Company may be unable to generate sufficient cash flows or have access to external financing; the Company may incur substantial additional indebtedness in the future; the Company is subject to risks from supply chain issues; risks related to inflation and tariffs; unexpected warranty expenses that may not be adequately covered by the Company's insurance policies; if the Company is unable to attract and retain key personnel, it may not be able to compete effectively in the renewable energy market; there are a limited number of purchasers of utility-scale quantities of electricity; compliance with environmental laws and regulations can be expensive; corporate responsibility may adversely impose additional costs; the future impact of any global pandemic on the Company is unknown at this time; the Company has limited insurance coverage; the Company will be reliant on information technology systems and may be subject to damaging cyberattacks; the Company may become subject to litigation; there is no guarantee on how the Company will use its available funds; the Company will continue to sell securities for cash to fund operations, capital expansion, mergers and acquisitions that will dilute the current shareholders; and future dilution as a result of financings.
The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
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SOURCE PowerBank Corporation
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