PowerBank Executes Interconnection Agreement for 3.15 MW Nova Scotia Community Solar Project

PowerBank Corporation (NASDAQ: PBK) (Cboe CA: PBK) (FSE: 103) ("PowerBank" or the "Company"), a leader in independent energy development and asset ownership in North America, announced that the project owner has executed the Standard Small Generator Interconnection and Operating Agreement (SSGIA) for the 3.15 MW DC Petpeswick ground-mounted community solar project in Halifax, Nova Scotia (the "Project"). The Project has also secured municipal permits and will now advance to environmental permitting. The Project is expected to power the equivalent of approximately 288 homes annually and generate roughly $1.727 million in lifetime electricity savings for the local community.

A Standard Small Generator Interconnection and Operating Agreement (SSGIA) is the formal contract that lets a smaller power project connect to and operate on the electricity grid. It sets the technical and safety rules for the physical connection and spells out who pays for any grid upgrades. For the Petpeswick project, signing it is a key milestone, confirming a clear, approved path to deliver solar power to the Nova Scotia grid before construction can begin.

Given the successful completion of the SSGIA and the receipt of necessary permits from the municipality, PowerBank will now be proceeding to environmental permitting. PowerBank targets commencement of ground preparation in the Fall of 2026 for the Petpeswick project, subject to final permitting and financing. Find details on PowerBank's progress on three community solar projects in Nova Scotia here.

The Project is owned by AI Renewable Flow-through Fund and PowerBank is the lead developer for the Project. PowerBank has partnered with local Nova Scotia's trusted engineering firm, Trimac Engineering, to deliver the Projects. PowerBank has been at the forefront of community solar development in the United States with over 50 MW of community solar projects completed and is proud to be deploying its expertise in Canada as the community solar market develops there.

Over the lifetime of the Project, it is expected to generate approximately $1.727 Million in electricity savings for the local community in Halifax, Nova Scotia. These savings come with additional benefits including local job creation, economic activity, and emissions reductions.

Community Solar is a cornerstone of Nova Scotia's bold commitment to achieve 80% renewable energy by 2030 and net-zero by 2035.

Unlike traditional rooftop systems, community solar allows renters, businesses, and homeowners to subscribe to the solar farm and receive bill credits and savings of $0.02/kWh—without installing any equipment. Project feeds directly into the local electricity grid and offers a flexible, accessible way for Nova Scotians to participate in the clean energy transition. As one of only four community solar contracts awarded under the program so far, the Petpeswick project contributes approximately 3.15 MW DC to the 100 MW AC of planned solar additions that will help reduce fossil fuel reliance and drive local economic development.

The Project leverages PowerBank's proven execution capabilities and strategic partnerships. With over 100 MW of projects built and a 1+ GW development pipeline, PowerBank brings institutional-grade development expertise to Atlantic Canada. The Project's clear timeline ensures near-term EPC revenue generation, and positions PowerBank to obtain additional development contracts in the high-growth community solar market. All MW numbers presented as MW DC unless otherwise specified.

PowerBank | www.powerbankcorp.com