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

Executive Summary

• PowerBank executed the Standard Small Generator Interconnection and Operating Agreement (SSGIA) for its 3.15 MW DC Petpeswick community solar project in Halifax, Nova Scotia, marking a critical milestone for grid connection.
• The project has secured municipal permits and will advance to environmental permitting, with ground preparation targeted for Fall 2026 pending final approvals and financing.
• The project is expected to power approximately 288 homes annually, deliver $0.02/kWh in bill credits to subscribers, and generate roughly $1.727 million in lifetime electricity savings for the local community.

Key Details

• Project Scope & Location: 3.15 MW DC ground-mounted community solar project located in Halifax, Nova Scotia.
• Interconnection & Permits: Executed the Standard Small Generator Interconnection and Operating Agreement (SSGIA), which establishes technical/safety grid connection rules and upgrade cost allocations. Municipal permits have been secured; the project is now advancing to environmental permitting.
• Development Timeline: Targets commencement of ground preparation in Fall 2026, subject to final permitting and financing.
• Ownership & Partnerships: Project is owned by AI Renewable Flow-through Fund; PowerBank serves as lead developer. Engineering partner is Trimac Engineering.
• Financial & Community Impact: Expected to generate approximately $1.727 million in lifetime electricity savings for the Halifax community. Subscribers (renters, businesses, homeowners) will receive bill credits/savings of $0.02/kWh without rooftop installation.
• Market & Regulatory Context: One of only four community solar contracts awarded under Nova Scotia's program to date. Contributes to the province's planned 100 MW AC of solar additions, supporting Nova Scotia's target of 80% renewable energy by 2030 and net-zero by 2035.
• Company Pipeline & Capacity: PowerBank has over 100 MW of projects built and maintains a 1+ GW development pipeline, leveraging institutional-grade execution capabilities for Atlantic Canada.
• Key Risks: Project development is subject to receipt of community solar contracts, regulatory permits, third-party financing availability, construction risks, and potential changes to or elimination of government solar incentives and policy support.