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Solarbank Corp. ( (TSE:SUNN) ) has issued an update.
SolarBank Corporation announced its fiscal third quarter results, highlighting a significant increase in IPP revenue and asset growth following the acquisition of Solar Flow-Through Funds Ltd. Despite a net loss and reduced revenues compared to the previous year, the company is advancing its strategic shift towards long-term stable revenues through its independent power producer portfolio. Key developments include the sale of the Camillus Solar Project, commencement of a battery energy storage project in Ontario, and a partnership with Viridi for a solar and battery project in New York. Additionally, a mandate letter with CIM Group provides up to US$100 million in project-based financing, supporting the company’s growth strategy.
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.
SolarBank Corporation operates in the renewable energy industry, focusing on solar power and battery energy storage systems. The company is involved in the development, construction, and sale of solar power projects, with a market focus on expanding its independent power producer portfolio and enhancing its energy business pipeline across key markets.
Average Trading Volume: 1,310
Technical Sentiment Signal: Buy
Find detailed analytics on SUNN stock on TipRanks’ Stock Analysis page.