PowerBank Advances Solar Project in New York with Major Approvals

Solarbank Corp. ( (TSE:SUNN) ) just unveiled an announcement.

PowerBank Corporation announced significant progress on its 3.15 MW DC hybrid solar plus energy storage project in Buffalo, New York, having passed major permitting approvals. This project, which includes 1.2 MWh of energy storage, is set to operate as a community solar project, allowing renters, businesses, and homeowners to subscribe and receive bill credits and savings. The project aligns with New York’s clean energy goals and is expected to benefit from state and federal incentives. PowerBank’s extensive experience and strategic partnerships position it well to deliver impactful renewable energy solutions, furthering New York’s path to achieving its solar and energy storage targets by 2030.

The most recent analyst rating on (TSE:SUNN) stock is a Buy with a C$6.00 price target. To see the full list of analyst forecasts on Solarbank Corp. stock, see the TSE:SUNN Stock Forecast page.

More about Solarbank Corp.

PowerBank Corporation is an independent renewable and clean energy project developer and owner, focusing on distributed and community solar projects in Canada and the USA. The company develops solar and Battery Energy Storage System (BESS) projects that sell electricity to utilities, commercial, industrial, municipal, and residential off-takers. PowerBank maximizes returns through a diverse portfolio of projects across multiple leading North American markets, including utilities, host off-takers, community solar, and virtual net metering projects. The company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts.

Technical Sentiment Signal: Buy

Current Market Cap: C$261.2M

For an in-depth examination of SUNN stock, go to TipRanks’ Overview page.