GrandBridge Corporation and PowerBank Corporation Announce Co-Development Agreement for Solar Energy and Battery Storage Projects in Ontario

Executive Summary

• GrandBridge Corporation and PowerBank Corporation have entered a three‑year exclusive co‑development agreement to build solar generation and battery storage projects (≥ 2 MWac each) in Ontario.
• The partnership will be structured with an 80/20 ownership split (GrandBridge 80%, PowerBank 20%) at financial close, subject to adjustment for any First Nations participation.
• Projects will be targeted for submission under IESO procurement programs (RFPs, Local Generation, VPPAs) and will leverage GrandBridge’s distribution network and PowerBank’s development expertise.

Key Details

• Geographic Scope: City of Brantford, City of Cambridge, Township of North Dumfries, County of Brant (GrandBridge Energy service territory).
• Project Types: Utility‑scale solar farms and Battery Energy Storage Systems (BESS) with nameplate capacity ≥ 2 MWac.
• Commercialization Paths: Virtual Power Purchase Agreements (VPPAs), Net Metering, IESO Long‑Term Procurement & Local Generation Programs, and other procurement mechanisms.
• Roles & Responsibilities:
• PowerBank – Lead project development, engineering, construction, and overall project execution.
• GrandBridge – Provide development and construction capital; co‑own projects; facilitate grid interconnection via GrandBridge Energy.
• Ownership Structure: 80 % GrandBridge / 20 % PowerBank at financial close; potential re‑allocation if First Nations partners join, with the 80/20 split applying to remaining ownership.
• Development Period: Exclusive collaboration for a three‑year period on qualifying projects within the defined territory.
• Strategic Rationale (CEO Quotes):
• GrandBridge aims to address rapid electricity demand growth and grid congestion through fast‑to‑market solar/BESS solutions.
• PowerBank highlights its > 100 MW of built renewable capacity and sees the partnership as a milestone for expanding its Ontario presence.
• Forward‑Looking Statements: The release contains extensive forward‑looking language regarding regulatory approvals, financing availability, market conditions, and project execution risks.

Notable Quotes

• Sarah Hughes, President & CEO, GrandBridge: “Solar generation and battery storage solutions can be developed in relatively short timeframes and at competitive costs… these resources can form part of an affordable toolkit to help limit grid congestion.”
• Dr. Richard Lu, President & CEO, PowerBank: “We are proud to sign this co‑development agreement… PowerBank has developed over 100 MW of renewable energy projects across North America, and we look forward to bringing that experience to this partnership.”