SolarBank Secures $1.06 Million in Incentives for Camillus Solar Project

An announcement from Solarbank Corp. ( (TSE:SUNN) ) is now available.

SolarBank Corporation has received $1.06 million USD in incentives from the New York State Energy Research and Development Authority for its 3.26 MW Camillus Solar Project under the NY-Sun Program. The project, sold to Solar Advocate Development LLC for $7.3 million USD, will be constructed as a community solar project on a closed landfill site. This award highlights SolarBank’s capability to secure government support for sustainable projects, although the incentives do not increase the transaction value. The project faces risks related to financing, compliance with incentive conditions, and potential changes in government policy.

More about Solarbank Corp.

SolarBank Corporation is an independent developer and owner of renewable and clean energy projects, 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, selling electricity to utilities, commercial, industrial, municipal, and residential off-takers. SolarBank has a diverse portfolio across North America, with a development pipeline of over one gigawatt and a track record of over 100 megawatts of built capacity.

Technical Sentiment Consensus Rating: Sell

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