An update from Solarbank Corp. ( (TSE:SUNN) ) is now available.
SolarBank Corporation has entered into a $7.3 million USD transaction with Solar Advocate Development LLC for the sale and construction of the 3.26 MW Camillus Solar Project. This project, a community solar initiative on a closed landfill site, is part of an ongoing relationship with Solar Advocate since 2018. The project is eligible for incentives under the NYSERDA NY-Sun Program and involves an engineering, procurement, and construction agreement. Despite the positive outlook, the project faces risks such as potential changes in government incentives and the availability of third-party financing.
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, selling electricity to utilities, commercial, industrial, municipal, and residential off-takers. SolarBank maximizes returns through a diverse portfolio across multiple North American markets, with a potential development pipeline exceeding one gigawatt and over 100 megawatts of renewable projects developed.
Technical Sentiment Consensus Rating: Sell
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