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Solarbank Corp. ( (TSE:SUNN) ) has shared an update.
PowerBank Corporation announced the successful completion of a major interconnection study for its 5.7 MW North Main St solar project in upstate New York, paving the way for permitting. This project is expected to qualify for New York’s Value of Distributed Energy Resources (VDER) compensation mechanism, ensuring fair compensation for clean energy delivered to the grid. Upon securing permits and financing, the project will operate as a community solar initiative, allowing renters, businesses, and homeowners to subscribe and receive bill credits and savings. This initiative supports New York’s Climate Leadership and Community Protection Act goal of 6 GW of solar capacity by 2025 and highlights PowerBank’s strategic positioning in the renewable energy sector.
The most recent analyst rating on (TSE:SUNN) stock is a Buy with a C$4.00 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, Battery Energy Storage System (BESS), and EV Charging 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.
Average Trading Volume: 6,416
Technical Sentiment Signal: Buy
Current Market Cap: C$261.2M
For a thorough assessment of SUNN stock, go to TipRanks’ Stock Analysis page.