SolarBank Corporation (NASDAQ: SUUN) is making strides in renewable energy with the development of a 6.9 MW DC solar project in Brooklyn, Nova Scotia. This $13.9 million initiative, owned by AI Renewable Fund and constructed in collaboration with Trimac Engineering, is a pivotal component of Nova Scotia's strategy to transition to cleaner energy sources. The project is aligned with the province's goals of achieving 80% renewable energy by 2030 and net-zero emissions by 2035.
The solar project is part of Canada's first Community Solar Program, highlighting a strategic effort to enhance renewable energy infrastructure. SolarBank will oversee the project's interconnection, permitting, and design phases through 2025, with construction expected to begin in spring 2026. This development not only reflects SolarBank's dedication to distributed and community solar projects across North America but also its role in fostering sustainable energy solutions.
In a move to bolster its growth and advisory capabilities, SolarBank has entered into a shares-for-services agreement with an independent advisor. This agreement, valued at up to $100,000 USD monthly, is contingent upon achieving strategic growth and advisory milestones. It signifies SolarBank's commitment to expanding its renewable energy portfolio and solidifying its position in the clean energy sector.
With a development pipeline that could exceed one gigawatt and a track record of developing over 100 megawatts in renewable energy projects, SolarBank is establishing itself as a key player in the transition to sustainable energy. The Brooklyn solar project is a testament to the company's expertise and its contribution to Nova Scotia's renewable energy ambitions. For more information on SolarBank's initiatives, visit https://www.solarbankcorp.com.
