SolarBank Corporation - SUUNF STOCK NEWS

SolarBank (NASDAQ: SUUN) has announced plans to develop a 7 MW DC ground-mount solar power project in Lancaster County, Pennsylvania. This Stauffer project is part of a larger 24.8 MW DC initiative, following the recently announced 13.8 MW DC project. The proposed community solar project would be one of the first in Pennsylvania, allowing residents to access solar energy without installing panels on their properties.

The project's development is contingent on the final approval of House Bill 1842 by the Pennsylvania State government, which enables community solar projects. SolarBank has secured a lease for the project site and will proceed with permitting, interconnection, and financing steps. The company aims to power approximately 820 homes with this project, aligning with its goal of providing clean and affordable energy to thousands of households.

SolarBank (NASDAQ: SUUN) has announced plans to develop a 3.7 MW DC ground-mount solar power project in Seneca County, New York. Known as the Congress project, it's expected to power over 430 homes through community solar. The project has secured a site lease and is undergoing an interconnection study.

This development is part of SolarBank's expanding pipeline, which exceeds one gigawatt. Community solar projects allow renters and homeowners to earn credits on their electric bills without installing panels on their homes. The project is anticipated to be eligible for incentives under the NYSERDA NY-Sun Program.

SolarBank acknowledges potential risks, including the need for interconnection approval, required permits, third-party financing, and construction challenges. The company also notes that changes in government incentives and policies for solar power could impact future project economics.

SolarBank (NASDAQ: SUUN) has announced plans to develop a 13.8 MW DC ground-mount solar power project called Grandview in Lancaster County, Pennsylvania. This project is part of a larger 24.8 MW DC three-project plan and is expected to power approximately 1,630 homes. It would be SolarBank's first community solar project in Pennsylvania, pending the approval of House Bill 1842 by the Pennsylvania Senate.

The project aims to provide clean energy access to residents, including renters and those without suitable rooftops, without the need for personal panel installation. SolarBank has secured a lease for the project site and is working on permitting, interconnection, and financing. The company's focus on community solar aligns with its goal of powering thousands of homes with affordable clean energy.

SolarBank (NASDAQ: SUUN) has announced plans to develop a 2.9 MW DC ground-mount solar power project called the Silver Springs project in Gainesville, New York. The project is in the early stages with a secured site lease and ongoing interconnection study. Once completed, it will operate as a community solar project, potentially serving over 340 homes.

Key points:

• Project is expected to be eligible for incentives under the NYSERDA NY-Sun Program
• Community solar allows renters and homeowners to benefit from renewable energy without installing panels
• SolarBank's focus on community solar aligns with its goal of providing clean, affordable energy

The company notes several risks associated with the project, including the need for interconnection approval, required permits, third-party financing, and construction risks. Additionally, changes in government incentives and policies for solar power could impact future project economics.

SolarBank (NASDAQ: SUUN) announces nearing completion of a 1.4 MW DC rooftop solar project in Calgary, Alberta for Fiera Real Estate Investments The project, expected to be operational in November 2024, contributes to Fiera Real Estate's Net Zero Carbon by 2040 target and expands SolarBank's portfolio. SolarBank is providing full-service development and EPC services for this pilot project, with potential for future collaborations.

Fiera Real Estate, a leading investment management company, manages over $7.4 billion USD in commercial real estate globally as of June 30, 2024. The project will operate as a small-scale generator in the Alberta Interconnected Electric System (AIES). Both companies view this as a significant step towards long-term growth and contribution to the global energy transition.

SolarBank (NASDAQ: SUUN) reported fiscal year 2024 results, highlighting a 217% increase in revenue to $58.4 million compared to $18.4 million in 2023. The company saw a 255% increase in cash flow from operating activities to $8.5 million. However, SolarBank reported a net loss of $3.6 million, or ($0.13) per basic share, compared to net income of $2.2 million in 2023. The loss includes expenses related to investor relations activities, listing fees, and a non-recurring impairment loss.

SolarBank's operational capacity stands at 32 MWdc with a development pipeline of approximately 1 GW. The company completed several projects and commenced construction on others during the fiscal year. Post-year-end, SolarBank closed its acquisition of Solar Flow-Through Funds , valued at up to $45 million, significantly expanding its IPP portfolio.

SolarBank (NASDAQ: SUUN) has submitted $1.5 million in grant applications for three fast electric vehicle (EV) charger projects in Ontario, Canada. The projects, owned by AI Renewable 2023 LP in partnership with a First Nation, are part of Natural Resources Canada's Zero Emission Vehicle Infrastructure Program (ZEVIP). SolarBank will serve as the turnkey developer, asset manager, and operations and maintenance provider.

The total cost of the projects is estimated at $2.3 million. Located in Woodstock, Peterborough, and Milton, two of the projects have additional grant applications under review by Ontario's EV ChargeON program. Results are expected by January 2025, with project completion anticipated by the fourth quarter of 2026.

This initiative represents AI Renewable's first EV charging investments, diversifying SolarBank's portfolio and advancing clean transportation in collaboration with First Nations.

SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2), a Toronto-based renewable energy company, will be presenting at the Arcstone-Kingswood Growth Summit on September 26, 2024. The event, a premier growth conference for companies and investors, will be held at the Sheraton Centre Toronto Hotel.

CEO Dr. Richard Lu will speak from 4:05 - 4:55pm EDT on the subject of diversified growth. Dr. Lu expressed excitement about the opportunity to connect with investors and other growing companies at the summit.

The conference runs from 8:00am to 5:00pm EDT. Interested parties can find more information at the Arcstone Global Securities website.

SolarBank (NASDAQ: SUUN) has announced plans to develop a 7 MW DC ground-mount solar power project called the Hwy 28 project on a 45-acre site in Middletown, Delaware County, New York. This follows the announcement of a 5.4 MW project in Broome County, New York. The Hwy 28 project is expected to:

• Operate as a community solar site, selling credits to subscribers
• Provide green energy to over 800 homes once operational
• Be eligible for incentives under the NYSERDA NY-Sun Program

SolarBank has secured a lease for the site and received interconnection approval. The company will now focus on completing the permitting process and securing financing for construction. This project contributes to SolarBank's growing community solar portfolio and development pipeline, which now exceeds one gigawatt.