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An announcement from Solarbank Corp. ( (TSE:SUNN) ) is now available.
PowerBank Corporation reported that its first operational battery energy storage project, the 4.99 MW SFF-06 BESS in Cramahe, Ontario, is in final hot commissioning and is expected to reach commercial operation in January 2026, pending final approvals. The project, owned 50% by PowerBank and 50% by a partnership of First Nations communities, will provide 4.74 MW of contracted capacity over 251 business days annually under a 22-year contract with the IESO at a premium fixed capacity payment, and benefits from Canada’s Clean Technology Investment Tax Credit, enhancing its projected returns and expanding PowerBank’s foothold in a rapidly growing storage market. The company also disclosed it has terminated its OZ-1 BESS equipment and service agreements due to permitting delays, incurring termination and retrofit-related payments while extending warranties for the SFF-06 and 903 projects, signaling a recalibration of its Ontario storage portfolio as it balances execution risks and long-term growth in grid-scale storage.
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 asset owner focused on distributed and community solar and battery energy storage system (BESS) projects in Canada and the United States, selling electricity primarily to utilities. With over 100 MW of completed projects and a development pipeline exceeding 1 GW, the company targets growth markets in solar and storage, positioning itself as a key player in North American clean energy infrastructure.
Technical Sentiment Signal: Buy
Current Market Cap: C$261.2M
For a thorough assessment of SUNN stock, go to TipRanks’ Stock Analysis page.