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LOS ANGELES - January 30, 2025 (NEWMEDIAWIRE) - Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (CSE: SUNN) has announced key achievements from 2024, including over $67.5 million in committed financing and several strategic initiatives. Highlights include a $49.5 million transaction with Qcells for four New York solar projects, a $25.8 million financing deal with Royal Bank of Canada for battery storage projects, and a Nasdaq listing in April. SolarBank also completed its acquisition of Solar Flow-Through Funds Ltd., valued at up to $45 million, and expanded its board with renewable energy expert Chelsea L. Nickles. The company is exploring data center colocation as part of its clean energy strategy. Major projects include a $41 million deal with Honeywell for three New York community solar projects and construction of a 1.4 MW rooftop solar project for Fiera Real Estate in Alberta. SolarBank also advanced numerous community solar initiatives across New York, Pennsylvania, and Nova Scotia. CEO Dr. Richard Lu emphasized the company's strong growth and continued momentum in expanding clean energy solutions.
To view the full press release, visit https://ibn.fm/9yPK9
About SolarBank Corporation
SolarBank Corporation is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the USA. The Company develops solar, Battery Energy Storage System (BESS) and EV Charging projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. The Company maximizes returns via a diverse portfolio of projects across multiple leading North America markets including projects with utilities, host off-takers, community solar, and virtual net metering projects. The Company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built.
For more information, visit the company's website at SolarBankCorp.com. This report contains forward looking information. Please refer to https://ibn.fm/G76GJ for additional details.
Forward-Looking Statements
Certain statements in this article are forward-looking, as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that may cause actual results to differ materially from the information expressed or implied by these forward-looking statements and may not be indicative of future results. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, various factors beyond management's control, including the risks set forth under the heading "Risk Factors" discussed under the caption "Item 1A. Risk Factors" in Part I of the Company's most recent Annual Report on Form 10-K or any updates discussed under the caption "Item 1A. Risk Factors" in Part II of the Company's Quarterly Reports on Form 10-Q and in the Company's other filings with the SEC. Undue reliance should not be placed on the forward-looking statements in this article in making an investment decision, which are based on information available to us on the date hereof. All parties undertake no duty to update this information unless required by law.