- SolarBank Corporation (SUUN, Financial) plans to develop a 6.9 MW DC solar power project in Brooklyn, Nova Scotia.
- The project is part of Nova Scotia's Community Solar Program aimed at achieving 80% renewable energy by 2030.
- Construction is set to begin in Spring 2026, with completion expected by Summer 2026, powering approximately 900 homes.
SolarBank Corporation (SUUN) has unveiled its plans to develop a 6.9 MW DC ground-mount solar power project in Brooklyn, Nova Scotia. This project is undertaken in partnership with Trimac Engineering and owned by AI Renewable Fund. With an estimated cost of $13.9 million, the Brooklyn project is a pivotal part of Nova Scotia's Community Solar Program, which supports the province's ambitious goal of sourcing 80% of its energy from renewable sources by 2030.
The solar project is designed to provide clean energy and deliver savings to local community members, allowing them to earn credits on their electric bills, saving $0.02 per kWh. Once operational, the project is expected to power approximately 900 homes.
SolarBank's build timeline for the project includes an expected start of construction in Spring 2026, with completion projected for Summer 2026. While providing environmental and economic benefits, the project also underscores SolarBank's strategic entry into Canada's first Community Solar Program, enhancing its community solar portfolio in Nova Scotia.
Additionally, SolarBank has entered into a shares-for-services arrangement with an advisor, involving monthly payments of $35,000 USD in both cash and shares. Depending on certain performance milestones, this compensation could increase to $100,000 USD monthly, indicating significant operational expenditure in alignment with their growth strategy.
