Apr 29, 2024

31 MW Solar Sites in Nova Scotia to be Developed by SolarBank

SolarBank Corporation (NASDAQ: SUUN) (CBOE CA: SUNN) (FSE: GY2) ("SolarBank" or the "Company") announces that it has partnered with TriMac Engineering of Sydney, Nova Scotia to develop a 10 MW DC community solar garden in the rural community of Enon,  and three 7 MW DC projects in Sydney, Halifax and Annapolis, Nova Scotia respectively (the "Projects"). The Projects are being developed under a Community Solar Program that was announced by the Government of Nova Scotia on March 1, 2024 and are owned by AI Renewable Fund.

The highlights of the Community Solar Program are as follows:

  • Add up to 100MW of clean, renewable solar generation to the grid, helping to reduce Nova Scotia's dependence on fossil fuels and mitigate climate change;
  • one megawatt of solar power can power about 131 homes for a year;
  • each community solar garden can produce up to 10 megawatts of power;
  • eligible groups can work together to build and own a solar garden; and
  • subscribers will get a solar energy credit of $0.02 per kilowatt hour on their power bill for energy generated by their subscription, administrated by Nova Scotia Power Inc.

There are many reasons why people can't install solar panels on their homes, including lack of roof space, too much shade, living in an apartment, condo or other shared housing arrangement, or cost. The Community Solar Program will make solar energy an option for people in these situations. New gardens under the Community Solar Program are expected to be up and running by spring 2026.

TriMac and SolarBank are currently planning to apply for Community Solar Program Contract  from the province by July 2024. If approved, construction would be expected to commence in 2025.

SolarBank Corporation | www.solarbankcorp.com