PowerBank and GrandBridge sign solar and storage agreement in Ontario

PowerBank (SUUN) and GrandBridge signed an agreement to jointly develop and invest in solar energy and battery storage projects in Ontario. Pursuit of projects through alternative commercialization opportunities, including Virtual Power Purchase Agreements, Net Metering, and other procurement programs and mechanisms. PowerBank will lead project development and construction. GrandBridge will provide development and construction capital and co-own the projects with PowerBank. The Agreement establishes a collaborative framework for developing electricity storage and generation projects with nameplate capacity of 2 MWac or greater within GrandBridge Energy’s service territory in Ontario, Canada. PowerBank and GrandBridge will collaborate exclusively during a three-year development period on qualifying projects within the defined territory. The partnership features an 80/20 ownership structure, with GrandBridge holding an 80% ownership interest and PowerBank holding a 20% ownership interest in projects upon Financial Close.