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Posted On: 08/06/2025 3:40:25 PM
Post# of 140
NetworkNewsBreaks – PowerBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103) Installs 4.99 MW Battery Storage System in Ontario
Disseminated on behalf of PowerBank Corporation
PowerBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103), announced the installation of its first 4.99 MW Battery Energy Storage System (BESS) at the SFF-06 project site in Cramahe, Ontario, marking its official entry into the battery storage sector. Backed by a $25.8 million green loan from RBC and acquired through a $45 million transaction with Solar Flow-Through Funds Ltd., the project is 50% owned by PowerBank and 50% by First Nations partners. The system benefits from a 22-year IESO contract with premium pricing and qualifies for a 30% Clean Technology Investment Tax Credit. Civil and electrical work is being executed by Anvil Crawler under a $1.85 million contract. While progress continues at SFF-06, development of the related 903 project remains delayed due to pending municipal approvals and local opposition, prompting a notice of potential force majeure to the IESO.
This report contains forward-looking information. Please refer to https://nnw.fm/UEk7r for additional details.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://nnw.fm/SUUN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Disseminated on behalf of PowerBank Corporation
PowerBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: 103), announced the installation of its first 4.99 MW Battery Energy Storage System (BESS) at the SFF-06 project site in Cramahe, Ontario, marking its official entry into the battery storage sector. Backed by a $25.8 million green loan from RBC and acquired through a $45 million transaction with Solar Flow-Through Funds Ltd., the project is 50% owned by PowerBank and 50% by First Nations partners. The system benefits from a 22-year IESO contract with premium pricing and qualifies for a 30% Clean Technology Investment Tax Credit. Civil and electrical work is being executed by Anvil Crawler under a $1.85 million contract. While progress continues at SFF-06, development of the related 903 project remains delayed due to pending municipal approvals and local opposition, prompting a notice of potential force majeure to the IESO.
This report contains forward-looking information. Please refer to https://nnw.fm/UEk7r for additional details.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://nnw.fm/SUUN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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