Solar Energy Firm Announces New Project, Sending Shares Higher

By: Dylan Sikes – AllPennyStocks.com News

Thursday, August 22, 2024

Solar energy is clean and renewable and it can generate electricity to help preserve the environment. Today, an announcement for a new solar project is sending shares higher.

SolarBank Corporation (NASDAQ: SUUN) announced in a press release today its intention to develop a 6.41 MW DC ground-mount solar power project known as the East Bloomfield project on a site located in East Bloomfield, New York. SolarBank said the project is expected to be eligible for incentives under the New York State Energy Research and Development Authority NY-Sun Program.

The project is expected to operate as a community solar site, selling credits to subscribers. Once operational, it will provide green energy to over 800 homes and be eligible to participate in the NYSUN program to receive NYSERDA incentives.

SolarBank is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the United States. They develop solar projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers.

Shares were trading higher in late morning activity.

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