NetworkNewsBreaks – SolarBank Corp. (NASDAQ: SUU
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Posted On: 02/04/2025 5:09:57 PM
NetworkNewsBreaks – SolarBank Corp. (NASDAQ: SUUN) (CSE: SUNN) to Begin Construction on First Battery Energy Storage Project
Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (CSE: SUNN) announced that construction on its first Battery Energy Storage System project in Ontario will commence the week of Feb. 10, 2025. The SFF-06 project, located in Cramahe, Ontario, is part of a $25.8 million loan agreement with the Royal Bank of Canada. Anvil Crawler Development Corp. was awarded a $1.85 million contract to complete civil and electrical work. The project, which secured a 22-year contract with Ontario’s Independent Electricity System Operator, will have a daily contract capacity of 4.74 MW. SolarBank holds a 50% interest in the project, with the remainder owned by a First Nations partnership. The company expects to benefit from Canada’s Clean Technology Investment Tax Credit, which provides up to 30% reimbursement for eligible capital costs.
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 SolarBank Corporation
SolarBank (NASDAQ: SUUN) (CSE: SUNN) announced that construction on its first Battery Energy Storage System project in Ontario will commence the week of Feb. 10, 2025. The SFF-06 project, located in Cramahe, Ontario, is part of a $25.8 million loan agreement with the Royal Bank of Canada. Anvil Crawler Development Corp. was awarded a $1.85 million contract to complete civil and electrical work. The project, which secured a 22-year contract with Ontario’s Independent Electricity System Operator, will have a daily contract capacity of 4.74 MW. SolarBank holds a 50% interest in the project, with the remainder owned by a First Nations partnership. The company expects to benefit from Canada’s Clean Technology Investment Tax Credit, which provides up to 30% reimbursement for eligible capital costs.
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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