PowerBank’s first solar project developed for Fiera Real Estate has begun commercial operation in Calgary.

The 1.45-megawatt DC rooftop solar project is PowerBank’s first operational project in Alberta and marks the company’s debut as a small-scale generator within the province’s interconnected electric system in 2025. The project will sell power to the grid under Alberta’s Small Scale Generation program, while also participating in the province’s Technology Innovation and Emissions Reduction system to generate carbon offsets.

PowerBank said the project supports Fiera’s Net Zero Pathway, under which two of its funds have established targets to achieve net-zero carbon emissions by 2040. The Calgary installation also expands PowerBank’s renewable-energy portfolio and serves as a pilot project for potential future developments with Fiera, which manages more than $12 billion of real estate assets globally.

Under an engineering, procurement and construction agreement, PowerBank is providing full-service development and engineering, procurement and construction services for the project, with support from Zathura Investments. In connection with the transaction, PowerBank will issue 10,089 shares to an arm’s-length third party as a service fee related to the introduction of Fiera, subject to regulatory approval and statutory hold requirements.

Pictured: PowerBank rooftop solar project developed for Fiera Real Estate in Calgary.

Image: CNW Group/PowerBank