FAQ: PowerBank Corporation's $1.74 Million Funding for Nova Scotia Community Solar Projects

What is the main announcement in this content?

PowerBank Corporation has secured $1.74 million in funding for three community solar projects in Nova Scotia through the Nova Scotia Department of Environment and Climate Change.

Which specific projects received funding and how much did each get?

The Sydney Solar Project received $340,000, the Petpeswick Solar Project received $440,000, and the Brooklyn Solar Project received $960,000.

Who provided the funding for these solar projects?

The funding was provided by the Nova Scotia Department of Environment and Climate Change through the Nova Scotia Department of Energy and managed by the Net Zero Atlantic program.

What is the ownership structure of these solar projects?

The projects are 48% owned by AI Renewable Flow-through Fund and 52% owned by either a non-profit organization or Potlotek First Nation.

What role does PowerBank play in these projects?

PowerBank is the lead developer and builder, working with Trimac Engineering to deliver the projects.

What is Net Zero Atlantic and what is their goal?

Net Zero Atlantic is a research organization supporting the energy transition that aims to help Atlantic Canada achieve carbon neutrality by 2050.

What is PowerBank Corporation’s expertise in renewable energy?

PowerBank has completed more than 50 MW of community solar in the United States and is now applying its expertise to Canada’s emerging community solar market.

What types of renewable energy projects does PowerBank develop?

PowerBank develops solar and Battery Energy Storage System (BESS) projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers.

Where can I find more information about PowerBank Corporation?

More information is available at www.powerbankcorp.com and the latest news is available at https://ibn.fm/SUUN.

What is the significance of this funding for Nova Scotia’s energy goals?

This funding supports Nova Scotia’s transition to renewable energy and helps advance the region’s goal of achieving carbon neutrality by 2050 through community solar development.