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Solarbank Corp. ( (TSE:SUNN) ) just unveiled an announcement.
SolarBank Corporation has announced a definitive agreement for an equity financing deal with a single institutional investor, involving the sale of common shares and warrants for gross proceeds of approximately US$8.5 million. The proceeds will be used to advance its power producer assets, including BESS projects and a community solar project in New York, as well as for working capital and general corporate purposes. This financing is expected to enhance SolarBank’s operational capabilities and strengthen its position in the renewable energy industry.
More about Solarbank Corp.
SolarBank 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. It has a diverse portfolio across multiple North American markets, with a potential development pipeline of over one gigawatt and a history of developing projects with a combined capacity of over 100 megawatts.
Technical Sentiment Consensus Rating: Sell
For a thorough assessment of SUNN stock, go to TipRanks’ Stock Analysis page.