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Solarbank Corp. ( (TSE:SUNN) ) has shared an update.
PowerBank Corporation has signed a lease for a 5 MW AC hybrid solar and battery energy storage project in New York, known as NY-Holland Glnwd, which is expected to qualify for state and federal incentives and support the state’s climate and solar deployment targets. The project is planned to operate as a community solar plus storage facility, enabling local renters and homeowners to subscribe and earn bill credits without installing their own equipment, while leveraging PowerBank’s established development track record to expand its U.S. footprint in a rapidly growing, lower-cost battery storage market, although it remains subject to interconnection approvals, permitting, financing and policy stability.
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 focused on distributed and community solar projects in Canada and the United States. The company develops solar and battery energy storage system (BESS) projects that sell electricity to utilities, commercial, industrial, municipal and residential customers, and seeks to maximize returns through a diversified portfolio across multiple North American markets, including utility-scale, host off-taker, community solar and virtual net metering projects. PowerBank has a development pipeline of more than 1 GW and has already developed over 100 MW of renewable and clean energy capacity.
Technical Sentiment Signal: Buy
Current Market Cap: C$261.2M
For an in-depth examination of SUNN stock, go to TipRanks’ Overview page.