- $25.8 million financing from the Royal Bank of Canada will be used for a 4.99 MW Ontario-based battery energy storage system consisting of two projects, SFF-06 and 903.
- The projects mark SolarBank’s first foray into energy storage, a market expected to reach $31.2 billion USD by 2029.
- The project benefits from a 22-year contract with Ontario’s electricity operator, ensuring stable revenue.
- SolarBank is leveraging government incentives, including a 30% Clean Technology Investment Tax Credit.
- Anvil Crawler Development Corp. was awarded a $1.85 million contract for civil and electrical work on the project.
Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., has announced that construction began on its first battery energy storage system (“BESS”) in Ontario during the week of February 10, 2025 (https://ibn.fm/smENa).
The project, known as SFF-06, is located in Cramahe, Ontario, and represents SolarBank’s entry into the fast-growing battery storage sector. The project will store energy to help balance the electrical grid and…
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://ibn.fm/SUUN
About GreenEnergyStocks
GreenEnergyStocks (“GES”) is a specialized communications platform with a focus on companies working to shape the future of the green economy. GreenEnergyStocks is one of 70+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, GES is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, GES brings its clients unparalleled recognition and brand awareness. GES is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from GreenEnergyStocks, text “Green” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.GreenEnergyStocks.com
Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer
GreenEnergyStocks
Los Angeles, CA
www.GreenEnergyStocks.com
310.299.1717 Office
Editor@GreenEnergyStocks.com
GreenEnergyStocks is powered by IBN
