TECH - Honeywell International Is Enlisting SolarBank For A $41 Million Renewable Energy Project In Upstate New York | Benzinga
Disseminated on behalf of SolarBank Corporation.
In the past ten years, the solar market in the United States has experienced notable growth, growing by 42% each year. This trend seems to be showing no signs of slowing down, as projections indicate an anticipated further increase of 41% within this year and Bloomberg Intelligence is reported as having predicted that solar will be the fastest-growing sub-segment in the energy sector in 2023. This growth has made the role of companies like SolarBank (OTCQX: SUUNF) (CSE: SUNN) crucial in the expansion of this critical industry.
Honeywell International (NASDAQ: HON) has acquired three proposed 21 MW DC ground-mount solar power projects in upstate New York from SolarBank, and entered into an engineering, procurement and construction (EPC) agreement with SolarBank, for a total transaction value of $41 million. The projects will be developed as three individual 7 MW DC solar power projects, known as SB-1, SB-2 and SB-3. The completed projects will then sell credits to subscribers under the community solar model, ...