Powerbank completes first Alberta solar project

Executive Summary

• Powerbank Corp. has achieved commercial operation for its first solar project in Alberta, a 1.45-megawatt DC rooftop installation located in Calgary for client Fiera Real Estate Investments Ltd.
• The project marks Powerbank's debut as a small-scale generator within the Alberta Interconnected Electric System (AIES) in 2025 and contributes to Fiera Real Estate’s Net Zero Pathway targets.
• Powerbank provided full-service development and EPC services for the project with support from Zathura Investments, while the project participates in Alberta’s small-scale generation program and TIER system for carbon offsets.

Key Details

• Project Capacity: 1.45-megawatt DC rooftop solar project.
• Location: Calgary, Alberta.
• Client: Fiera Real Estate Investments Ltd.
• Status: Achieved commercial operation.
• Market Entry: First operational project in Alberta; debut as a small-scale generator in the Alberta Interconnected Electric System (AIES) in 2025.
• Revenue/Offset Mechanism: Sells power to the grid under Alberta's small-scale generation program and participates in the Technology Innovation and Emissions Reduction (TIER) system to generate carbon offsets.
• Strategic Context: Supports Fiera Real Estate’s commitment to a Net Zero Pathway, with two funds targeting net-zero carbon by 2040.
• Service Provider: Powerbank provided full-service development and engineering, procurement, and construction (EPC) services under an EPC agreement with Fiera Real Estate.
• Partner: Zathura Investments provided support.
• Corporate Action: Powerbank issued 10,089 shares to an arm's-length third party as a service fee for introducing Fiera Real Estate.
• Share Restrictions: The issued shares are subject to a statutory hold period of four months and one day from the date of issuance, pending final acceptance by Cboe Canada Exchange Inc.

Notable Quotes

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