PowerBank Corporation is on the brink of commissioning its first utility-scale battery energy storage system (BESS) in Ontario, Canada, marking a key milestone in the company’s transition from solar developer to diversified clean energy infrastructure provider. The SFF-06 BESS Project, located in the Township of Cramahe, comprises a 4.99 MW (about 20 MWh) lithium-ion battery installation and is in the final stages of technical commissioning and grid interconnection ahead of anticipated commercial operation in early 2026 under Ontario’s Independent Electricity System Operator (IESO) long-term capacity framework. IESO is also at the receiving end of Hagersville battery energy storage project‘s grid reliability capabilities and peak demand support after the BESS was recently commissioned by SNGRDC and Boralex.

 

PowerBank Expects First Battery Storage Project in Ontario to Commence Operations

January 6, 2026 – PowerBank Corporation expects its 4.99 MW battery storage project in Ontario to commence operations during January 2026, subject to the receipt of all necessary commissioning approvals. The information was provided through the company’s official statement. The SFF-06 project in Cramehe, Ontario is completing final commission with EVLO. Furthermore, it includes nine battery containers with the project expected to deliver 4.74 MW of daily contract capacity for 251 business days annually.

PowerBank holds a 50% stake in the project through the 1000234763 Ontario Inc. On the other hand, 50% is owned by a partnership of First Nations Clean Energy. The company acquired the project through its $45 million purchase of Solar Flow-Through Funds Ltd. In July 2024.

The project secured a 22-year contract in July 2023 through the Independent Electricity System Operator’s Expedited Long-Term RFP. It was with a fixed capacity payment of $1,221 per MW per business day. The project also qualifies for the 2024 Clean Technology Investment Tax Credit, offering up to 30% reimbursement of eligible capital costs. Clean energy storage projects are starting to take shape across Canada with Ontario commissioning projects such as the PowerCo SE Gigafactory Project to facilitate energy needs and demands.

Scope on the PowerBank Battery Storage Project in Ontario

PowerBank battery storage project in Ontario is just one of the projects that the company is currently focusing on. It also provided updates on two other battery storage projects in the region. The company terminated contracts for the OZ-1 project due to permitting delays. Because of this, they paid a $475,000 termination fee and $100,000 in retrofit cost reimbursements.

PowerBank will also pay an additional $512,000 for extended warranties on the SFF-06 and 903 projects. PowerBank develops solar and battery energy storage projects across Canada and the United States. It has over 100 MW of completed projects and a development pipeline exceeding 1 GW. Despite the progress and benefits, there are also various risks the company highlighted.

For instance, the commercial operation of the Project is subject to receipt of final technical and regulatory approvals. Furthermore, the degradation of battery storage capacity can occur over time based on the number of discharge cycles.

 

Project Factsheet:

PowerBank Battery Storage Project in Ontario

Overview

• PowerBank will start operations of its initial battery energy storage in Ontario.
• See Figure 1: Commercial operations anticipated: January 2026.

Developer / Owner

• Business: PowerBank Corporation.

Ownership Structure:

• PowerBank: 50%
• First Nations partnership: 50%

Project Details

• Project Name: SFF-06
• Place: Cramahe, Ontario, Canada.
• Technology Partner: EVLO
• System Size: 4.99 MW
• Contracted Capacity: 4.74 MW/day of business.
• Battery Specifications: 9 battery containers.

Contract & Revenue Structure

• Type of Contract: Long-term capacity contract.
• Counterparty: Independent Electricity System Operator (IESO)
• Procurement Program: Accelerated Long-Term RFP.
• Contract Term: 22 years (granted July 2023)
• Capacity Fee: 1,221 per MW per day of business.
• Days of operation: 251 working days in a year.

Financing & Incentives

• Obtained through the acquisition of Solar Flow-Through Funds Ltd. by PowerBank (July 2024) at a price of 45M.
• Canada Clean Technology Investment Tax Credit is eligible.
• Tax Credit: 30 percent reimbursement of approved capital expenditures.

Project Status

• Climax commissioning in progress.
• Technical and regulatory approvals pending.
• Strategic Context
• PowerBank portfolio: 100+ MW of realized projects.
• Pipe development: More than 1 GW in Canada and the U.S.
• The initial battery storage facility that marks PowerBank’s operation within Ontario.

Key Risks

• Approval time delays.
• The degradation of battery with life.

Project Team Behind PowerBank’s SFF-06 BESS and their Roles

• PowerBank Corporation – Co-owner and lead developer of the SFF-06 battery energy storage system project. PowerBank also holds a 50% stake in the project through 1000234763 Ontario Inc.
• First Nations Partnership – Co-owner with 50% stake of the ProjectCo entity. Represents indigenous community partnership and collaboration on siting and long-term benefits
• Royal Bank of Canada (RBC) – Lender, Administrative and Collateral Agent, and Green Loan Structuring Agent for the $25.8 million financing package supporting SFF-06 BESS.
• Anvil Crawler Development Corp. – Civil and electrical contractor selected to execute site-works, under a contract valued at approximately $1.85 million.
• Independent Electricity System Operator (IESO) – Procuring authority for the 22-year Expedited Long-Term RFP (E-LT1) capacity contract that underpins SFF-06 revenue certainty.
• EVLO – Technical partner supplying the nine EVLO battery containers for storage deployment and integration.