PowerBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103), a developer and owner of renewable energy projects specializing in distributed and community solar, announced progress on three community solar projects in Nova Scotia. The developments are located in Sydney, Brooklyn, and West Petpeswick, and are expected to begin construction in spring 2026, pending interconnection results and financing.
According to the company, the projects will generate a combined 12.4 MW DC of solar power, producing approximately 14,369 megawatt hours of clean energy annually. This output is enough to power the equivalent of 1,140 homes each year. The initiative supports Nova Scotia's target of sourcing 80% of its electricity from renewables by 2030.
The environmental benefits are significant: the projects are expected to reduce roughly 10,058 tonnes of CO2 annually, equivalent to removing 3,081 passenger vehicles from the road. Lifetime savings for local communities are estimated at $6.95 million, providing economic relief alongside environmental gains.
PowerBank emphasized that the projects represent a step forward in expanding community solar access in Canada. The company specializes in developing solar installations that allow multiple subscribers to benefit from a single array, often reducing electricity costs for participants. More details on the projects can be found in the company's announcement at https://ibn.fm/KEBUi.
The company cautioned that forward-looking statements in the release are subject to risks and uncertainties, including those outlined in its filings with the SEC. Factors such as financing, regulatory approvals, and construction timelines could affect actual results.
PowerBank's move comes as interest in community solar grows across North America, driven by policy incentives and consumer demand for renewable energy. By targeting Nova Scotia, the company is positioning itself to benefit from the province's aggressive renewable energy goals.
For more information about PowerBank and its projects, visit the InvestorBrandNetwork website at http://IBN.fm/Disclaimer for full terms and disclaimers.
