The latest update is out from Solarbank Corp. ( (TSE:SUNN) ).
SolarBank Corporation announced the development of a 4.3 MW DC ground-mount solar power project, known as the Glen Rd project, in upstate New York. This community solar project aims to power approximately 500 homes and is part of SolarBank’s expanding development pipeline. The project is expected to benefit from incentives under the NYSERDA NY-Sun Program, and once operational, it will feed clean energy into the local power grid, allowing subscribers to earn credits on their electric bills. Solar Simplified will manage customer-facing activities, ensuring full project subscription and maximizing revenue. The project faces risks related to interconnection approval, financing, and potential changes in government incentives.
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 maximizes returns through a diverse portfolio across multiple North American markets, with a development pipeline exceeding one gigawatt and over 100 megawatts of projects built.
Technical Sentiment Consensus Rating: Sell
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