SolarBank Corporation - SUUNF STOCK NEWS

SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) has announced the release date for its annual financial results for the fiscal year ending June 30, 2024. The company will publish its financial report after the Nasdaq market closes on Monday, September 30, 2024. Following the release, SolarBank will host a webinar to provide a business update and discuss the annual results.

The webinar is scheduled for September 30, 2024, at 4:00 PM Eastern Time (US and Canada). Interested parties can register in advance for the webinar through the provided Microsoft Teams event link. Upon registration, participants will receive a confirmation email with details on how to join the webinar.

SolarBank (NASDAQ: SUUN) has announced plans to develop a 6.41 MW DC ground-mount solar power project in East Bloomfield, New York. The project is expected to operate as a community solar site, providing green energy to over 800 homes. Key points include:

• Secured lease and interconnection approval
• Received Special Use Permit from East Bloomfield
• Eligible for NYSERDA NY-Sun Program incentives
• Aligns with SolarBank's goal of powering homes with clean, affordable energy

The company is working to complete permitting and secure financing for construction. Once operational, subscribers will earn credits on their electric bills from the solar energy generated by the project.

SolarBank (NASDAQ: SUUN) announces plans to develop a 7 MW DC ground-mount solar power project in Clay, New York. The Oak Orchard project, situated on a 23-acre closed landfill, aims to repurpose the land for green energy production. Key highlights include:

1. Expected to operate as a community solar site, providing credits to subscribers
2. Anticipated to supply green energy to over 800 homes once operational
3. Eligible for incentives under the NYSERDA NY-Sun Program
4. Lease secured for the project site
5. Interconnection approval application submitted

The project's success depends on factors such as interconnection approval, permitting, financing, and construction risks. SolarBank emphasizes the potential benefits of community solar while acknowledging the associated development challenges.

SolarBank (Nasdaq: SUUN) has begun construction on a 1.4 MW DC rooftop solar project for Fiera Real Estate in Alberta. The project, expected to operate as a 'Small Scale Generator,' marks SolarBank's first construction project for Fiera, with more anticipated in the future. Construction started on July 15, 2024, with major equipment deliveries and site preparations underway. The project is slated for completion in November 2024.

This initiative aligns with Fiera's Net Zero Pathway, targeting Net Zero Carbon by 2040. Fiera Real Estate, a leading investment management company, globally manages over USD$7.0 billion of commercial real estate. The project is part of a broader effort to combat climate change, particularly relevant given Alberta's record-breaking wildfire season in 2023.

SolarBank (NASDAQ: SUUN) has announced an update on its 3.25 MW DC ground-mount solar power project in Camillus, New York. The project, located on a closed landfill, has received plan approval and a special use permit from the town. It is expected to be eligible for incentives under the NYSERDA NY-Sun Program. The final step in development is securing financing, with construction anticipated to begin in Q3 2024.

This project is part of SolarBank's growing independent power producer assets portfolio, which currently has a combined capacity of 50.76 MW (32 MW operating and 18.76 MW under construction). Once operational, it will function as a community solar site, providing green energy to approximately 360 homes through a subscription model. Subscribers will earn credits on their electric bills from the solar energy generated by the project.

SolarBank has secured a US$2.6 million construction loan from Seminole Financial Services to complete the 3.79 MW Geddes Project in Upstate New York. Once operational in Q3 2024, the project will supply green energy to over 500 homes. This community solar project repurposes a closed landfill, transforming it into a valuable asset. Seminole has funded over US$2.5 billion in renewable energy projects across the U.S. The loan will convert to a mini-perm loan upon project completion and is secured against the project's assets. No shares are issuable in connection with this loan.

SolarBank announced plans to develop a 6.41 MW DC ground-mount solar project in Bloomfield, New York, named the Rice Road Project. The project aims to provide green energy to over 800 homes and will operate as a community solar site, allowing subscribers to earn credits on their electric bills. The project is eligible for incentives under the NY-Sun Program from the New York State Energy Research and Development Authority (NYSERDA).

SolarBank has secured a lease for the project site and received interconnection approval. The next steps include completing the permitting process and securing financing for construction. The development faces risks such as obtaining necessary permits and third-party financing, as well as potential changes in government incentives and policies.