Why iSun Shares Are Trading Higher

iSun Inc ISUN shares are trading higher by 4.14% to $2.14 Tuesday morning after the company announced it was 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.

What Else?

iSun says projects will begin in the first quarter of 2023 and are expected to be completed within 2023.

"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," said Jeffrey Peck, Chairman and CEO of iSun.

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"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," Peck stated.

According to data from Benzinga Pro, iSun Inc has a 52-week high of $7.40 and a 52-week low of $1.22.