HON - SolarBank (OTC: SUUNF) Secures Win: $36 Million In EPC Contracts Awarded For Ontario's Battery Energy Storage Projects | Benzinga
Disseminated on behalf of SolarBank Corporation.
In July, SolarBank Corporation (OTC: SUUNF) (CSE: SUNN) (FSE: GY2) ("SolarBank”) achieved a key milestone by securing approval from the Ontario Independent Electricity System Operator (IESO) for the implementation of three battery storage projects and subsequently secured an engineering, procurement and construction (EPC) contract for their construction.
This significant development marks SolarBank's entry into the battery energy storage industry in Ontario. SolarBank collaborated with the owners of these projects to successfully secure the contract through the IESO's Expedited Long-Term 1 (E-LT1) Reliability Procurement process.
The company, headquartered in Toronto, just announced its latest milestone related to these projects in the form of three EPC contracts for their construction. These contracts, which were finalized on October 3, 2023, involve the engineering, procurement and construction of three separate battery energy storage system (BESS) projects. The total value of these contracts is $36 million – representing a major win for the company.
The projects are collectively owned by Solar Flow-Through Funds, two First Nations communities and a third-party developer based in Ontario, emphasizing the diverse and influential nature of the collaborations. This development follows other positive news from SolarBank as the company continues to secure partnerships and contracts.
The company operates in a growing market – the battery energy storage market is predicted to continue to grow by double-digits, with a ...