SolarBank Corporation to Develop 6.9 MW Solar Project in Nova Scotia as Part of Province's Renewable Energy Push
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 (NASDAQ: SUUN) 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 strategy. The $13.9 million project, owned by AI Renewable Fund, will be constructed in partnership with local firm Trimac Engineering. This development represents a strategic approach to expanding renewable energy infrastructure and demonstrates SolarBank's commitment to distributed and community solar projects across North America.
The solar initiative aligns with Nova Scotia's ambitious clean energy objectives, which include reaching 80% renewable energy by 2030 and achieving net-zero emissions by 2035. SolarBank will manage the project's interconnection, permitting, and design phases through 2025, with construction anticipated to commence in spring 2026. As part of Canada's inaugural Community Solar Program, this project represents a strategic approach to expanding renewable energy infrastructure while supporting local energy needs.
The company has disclosed a shares-for-services agreement with an independent advisor, valued at up to $100,000 USD monthly, tied to strategic growth and advisory milestones. This arrangement underscores SolarBank's focus on expanding its renewable energy portfolio and positions the company for continued growth in the clean energy sector. With a potential development pipeline exceeding one gigawatt and previous experience developing renewable energy projects totaling over 100 megawatts, SolarBank continues to establish itself as a significant player in North America's transition to sustainable energy solutions.
Curated from InvestorBrandNetwork (IBN)
