PowerBank Secures $1.74 Million for Nova Scotia Solar Projects

Solarbank Corp. ( (TSE:SUNN) ) just unveiled an announcement.

PowerBank Corporation has received a $1.74 million grant from Net Zero Atlantic for the development of three community solar projects in Nova Scotia, which will generate a total of 12.4 MW DC. These projects, partially owned by AI Renewable Flow-through Fund and a non-profit organization or Potlotek First Nation, aim to support Nova Scotia’s renewable energy goals by 2030 and contribute to a net-zero electricity grid by 2035. The initiative is part of the Nova Scotia Community Solar Program, the first of its kind in Canada, which seeks to add 100 MW of solar generation to the grid, reduce reliance on fossil fuels, and promote local economic growth. PowerBank, leveraging its extensive experience in solar development, will partner with Trimac Engineering to deliver these projects, offering community members access to renewable energy benefits without the need for personal solar panel installations.

The most recent analyst rating on (TSE:SUNN) stock is a Buy with a C$4.00 price target. To see the full list of analyst forecasts on Solarbank Corp. stock, see the TSE:SUNN Stock Forecast page.

More about Solarbank Corp.

PowerBank Corporation is an independent renewable and clean energy project developer and owner, focusing on distributed and community solar projects in Canada and the USA. With over 100 MW of completed projects and a development pipeline exceeding 1 GW across North America, PowerBank is a high-growth player in the renewable energy sector. The company specializes in solar and Battery Energy Storage System (BESS) projects, selling electricity to a variety of off-takers, including utilities and residential customers.

Average Trading Volume: 5,899

Technical Sentiment Signal: Buy

Current Market Cap: C$261.2M

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