Core Insights - PowerBank Corporation is nearing the completion of its SFF-06 Battery Energy Storage System project in Ontario, Canada, which will have a capacity of 4.99 MW and is expected to commence commercial operations in January 2026 [1][2]. Project Overview - The SFF-06 Project is in the final stages of commissioning with technical partners to ensure safe installation and interconnection with the Hydro grid [2]. - PowerBank holds a 50% stake in the SFF-06 Project, which is owned by 1000234763 Ontario Inc., with the other 50% owned by a partnership of First Nations communities [3]. - The project was part of a $45 million acquisition of Solar Flow-Through Funds Ltd. in July 2024, positioning the company in a growing battery storage market projected to reach $31.2 billion by 2029, with a CAGR of 16.3% [3]. Financial Aspects - The SFF-06 Project qualifies for the 2024 Clean Technology Investment Tax Credit, which offers up to 30% reimbursement of eligible capital costs, enhancing its financial performance [4]. - The project secured a 22-year contract with the Independent Electricity System Operator (IESO) at a fixed capacity payment of $1,221/MW per business day, significantly above the average of $876/MW for storage projects [5]. Company Expertise and Development Pipeline - PowerBank has completed over 100 MW of projects and has a development pipeline exceeding 1 GW, showcasing its expertise in renewable energy solutions [6]. - The company is also developing two other battery energy storage projects in Ontario, although permitting delays have led to the termination of contracts for one of the projects, OZ-1 [8].