SolarBank Corp. acquired an aggregate of 42,500 limited partnership units of the Solar Flow-Through 2016-I Limited Partnership, which is part of the Solar Flow Through Funds (SFF) group, for a total purchase price of $2,465,000, the company announced in a July 10 press release.
SFF is a renewable and clean energy project developer and operator in Canada developing solar photovoltaic power generations.
In undertaking this transaction, SFF is aiming to consolidate its existing limited partnerships into a single corporate entity in order to obtain a listing on a stock exchange either by way of a direct listing or a business combination with a publicly listed company.
SolarBank and SFF have an existing, long-term relationship with a number of SFF solar power projects. SolarBank recently submitted proposals on SFF’s behalf to the province of Ontario, Canada. As a result, SFF and its co-investors received 60 MWh of battery energy storage contracts from the province.
SolarBank is an independent renewable and clean energy company based in Canada and the U.S. Like SolarBank, SFF is also an independent renewable and clean energy company based in Canada engaged in solar photovoltaic generation.
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