Why The iSun Stock Increased Over 4% (ISUN)

By Amit Chowdhry ● Jan 24, 2023
  • The stock price of iSun (ISUN) increased by over 4% intraday today. This is why.

The stock price of iSun (ISUN) increased by over 4% intraday today.

Why: iSun announced that it has been awarded a portfolio of solar projects totaling 16.00MW and valued at $16.12 million in Maine, to expand community solar projects across that state.

HIGHLIGHTS:
  1. 16.00 MW Portfolio award adds to iSun’s already active and completed 48.5 MW of projects in the Maine market
  2. $16.12 million in new contracts highlights iSun’s momentum and continued geographic expansion in Maine while developing an important new customer relationship
  3. Projects will begin in the first quarter of 2023 and are expected to be completed within 2023

KEY QUOTE:

“We are excited to expand our portfolio of solar projects in Maine, and happy to see our project backlog flowing into active contracts. These projects, along with other recently announced contract awards, bring our total recent contract awards to 47.5MW and $43.25 million. Execution of this portfolio of projects will start this quarter. Our team has developed excellent momentum in winning awards in Maine this year, driving confidence in our ability to provide the high-quality solar installations needed by customers in communities throughout Maine. This award demonstrates our strong commitment to bringing alternative energy to customers in New England. With this new contract, we are proud to continue to lead the transition in advancing Maine’s energy market.”

  • Jeffrey Peck, Chairman and Chief Executive Officer of iSun