PowerBank's SFF-06 Battery Storage Project Enters Final Commissioning Phase

MT Newswires Live01-07

PowerBank (SUUN) said Tuesday that its 4.99-megawatt SFF-06 battery energy storage system project in Ontario is in final commissioning and expected to reach commercial operation this month.

Once operational, SFF-06 is expected to provide 4.74 megawatts of contracted capacity per business day for 251 days each year under a 22-year Independent Electricity System Operator contract secured in 2023, the company said.

The project is also eligible for Canada's 2024 Clean Technology Investment Tax Credit, which offers reimbursement of up to 30% of qualifying capital expenditures, it added.

Shares of the company were up 1% in recent trading Tuesday.

Price: 1.69, Change: +0.02, Percent Change: +1.20

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