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An update from Solarbank Corp. ( (TSE:SUNN) ) is now available.
PowerBank Corporation announced that its Geddes Solar Power Project in New York State has received a $1.47 million USD incentive from the NYSERDA NY-Sun Program. This project, built on a closed landfill and capable of powering approximately 450 homes annually, is part of New York’s initiative to expand solar capacity to 10 GW by 2030. The project benefits from several financial incentives, including the Community Adder and Landfill/Brownfield Adder, enhancing its role as a community solar project. This initiative underscores PowerBank’s strategic positioning in the renewable energy sector, leveraging its extensive experience and partnerships to deliver impactful clean energy solutions.
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, focusing on distributed and community solar projects in Canada and the USA. The company develops solar and Battery Energy Storage System (BESS) projects, selling electricity to utilities, commercial, industrial, municipal, and residential off-takers. With a development pipeline exceeding one gigawatt and over 100 megawatts of completed projects, PowerBank maximizes returns through a diverse portfolio across leading North American markets.
Technical Sentiment Signal: Buy
Current Market Cap: C$261.2M
See more insights into SUNN stock on TipRanks’ Stock Analysis page.