{"id":20405,"date":"2024-02-01T20:45:55","date_gmt":"2024-02-02T04:45:55","guid":{"rendered":"https:\/\/marketdepth.com\/?p=20405"},"modified":"2024-02-01T20:47:00","modified_gmt":"2024-02-02T04:47:00","slug":"tech-giants-fueling-renewable-energy-set-to-overtake-ai-trends","status":"publish","type":"post","link":"https:\/\/marketdepth.com\/tech-giants-fueling-renewable-energy-set-to-overtake-ai-trends\/","title":{"rendered":"Tech giants fueling renewable energy set to overtake AI trends"},"content":{"rendered":"\n

The following is a paid promotion for SolarBank Corporation. Please carefully review the forward looking statements and legal disclaimers at the end of this article for important details.<\/em> Disseminated on behalf of SolarBank Corporation<\/em><\/p>\n\n\n\n

Renewable energy is gaining more momentum than ever before, and global tech is banking on it.<\/p>\n\n\n\n

SolarBank Corporation (CSE: SUNN; OTC: SUUNF; FSE: GY2<\/a>)<\/strong>, a leader in the renewable industry was recently awarded C$107 million<\/span>[1]<\/a> <\/strong>in engineering, procurement and construction (EPC) contracts across North America.<\/p>\n\n\n\n

\"Top<\/figure>\n\n\n\n

 And that\u2019s just the tip of the iceberg.<\/p>\n\n\n\n

Listen, the most insatiable demand right now is pointed at domestic solutions for renewable resources.<\/p>\n\n\n\n

And that\u2019s exactly what SolarBank is helping to solve.<\/p>\n\n\n\n

SolarBank (CSE: SUNN; OTC: SUUNF; FSE: GY2<\/a>)<\/strong> demonstrates success in the solar sector.<\/p>\n\n\n\n

In 2017, a 30-year partnership with Maryland, U.S. aimed to solarize the state’s transportation network. The company has built over 70 MWp in solar projects across North America, including four Community Solar Projects in 2018, generating 10.2 MW, sold in 2019. The company had completed over 150 projects generating enough electricity to power 10,000 homes.<\/strong> The company has also managed over $200 million<\/strong> in project financing.<\/p>\n\n\n\n

It doesn\u2019t stop there.<\/p>\n\n\n\n

Success continued with a 7 MWp Community Solar Farm in 2020, three commercial solar projects in 2021, and initiation of six diverse projects in 2022.<\/p>\n\n\n\n

\"Honeywellsolar\"<\/figure>\n\n\n\n

In a major 2023 achievement, SolarBank (CSE: SUNN; OTC: SUUNF; FSE: GY2)<\/a><\/strong> partnered with Honeywell International Inc.,\u2014a $133-billion-dollar powerhouse<\/strong>\u2014for three 7 MW solar installations in New York, valued at $41 million<\/span><\/strong>, an amount greater than its entire fiscal 2022 revenue. Building on their previous collaboration on a solar power plant supporting Onondaga Lake’s restoration.<\/p>\n\n\n\n

In the same year,<\/strong> SolarBank (CSE: SUNN; OTC: SUUNF; FSE: GY2<\/a>)<\/strong> secured C$36 million<\/span><\/strong> in EPC contracts for Battery Energy Storage System projects in Canada and an $11.35 million<\/span><\/strong> EPC contract for a New York Community Solar Project, strengthening its future plans.<\/p>\n\n\n\n

Why Solar?<\/span><\/strong><\/h2>\n\n\n\n

In the current landscape, solar energy has gained unprecedented importance and demand due to its pivotal role in addressing global environmental concerns and fostering energy sustainability.<\/p>\n\n\n\n

Governments worldwide, particularly in North America, are implementing robust policies to accelerate the shift towards solar power, recognizing its potential to reduce carbon emissions.<\/p>\n\n\n\n

This surge in demand is propelled by the combination of technological advancements making solar more affordable, coupled with an increasing commitment from governments and tech giants to transition away from fossil fuels.<\/p>\n\n\n\n

\"Climate<\/figure>\n\n\n\n

Key factors driving the heightened demand for solar:<\/span><\/strong><\/h2>\n\n\n\n

Environmental Imperative:<\/strong><\/p>\n\n\n\n