PowerBank Advances Solar Projects in New York with $168 Million Investment

Solarbank Corp. ( (TSE:SUNN) ) has provided an update.

PowerBank Corporation has announced updates on its 15 distributed solar and energy storage projects across New York State, which are expected to generate 67 MW DC of solar power and 11 MWh of energy storage. These projects, with a construction value of $168 million USD, are eligible for a 30% Investment Tax Credit and could power approximately 7,500 homes. The projects support New York’s goal of achieving 10 GW of distributed solar and 6 GW of energy storage by 2030. PowerBank’s strategic partnerships and proven expertise in renewable energy development position it to deliver high-impact solutions, although risks such as policy changes and financing challenges remain.

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 via a diverse portfolio of projects across multiple leading North American markets, including projects with 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 built.

Technical Sentiment Signal: Buy

Current Market Cap: C$261.2M

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