SolarBank to Begin Construction of Battery Energy Storage Project in Ontario

MT Newswires Live
04 Feb

SolarBank (SUUN) said Tuesday that construction of its first battery energy storage system project in Ontario is expected to begin next week, with the civil and electrical contract awarded to Anvil Crawler Development for $1.85 million.

The company said it has an indirect 50% interest in 1000234763 Ontario, which owns the project, while the remaining 50% is held by a partnership formed by First Nations communities in Ontario.

The project is being financed via a combined loan for two projects of $25.8 million from Royal Bank of Canada, SolarBank said.

SolarBank shares were rising 4% in recent trading.

Price: 3.10, Change: +0.12, Percent Change: +4.03

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10