Core Insights - SolarBank Corporation has achieved significant milestones in 2024, including major acquisitions, project completions, and listings on stock exchanges [2][9] - The company is focused on expanding its renewable energy projects, particularly in solar and battery energy storage, while also venturing into data center infrastructure [6][11] Financial Transactions - A $49.5 million transaction with Qcells for the sale and construction of four solar projects in New York State [6] - A $25.8 million project finance facility from the Royal Bank of Canada to develop two battery energy storage projects [6] - Over $67.5 million committed by strategic and financial partners to support various initiatives [3] Corporate Developments - SolarBank began trading on the Nasdaq Global Market on April 8, 2024, and listed on Cboe Canada on February 14, 2024 [6] - The company appointed Chelsea L. Nickles to its board of directors, bringing over 20 years of renewable energy experience [6] - The acquisition of Solar Flow-Through Funds Ltd. was completed, valued at up to $45 million [6] Project Highlights - Mechanical construction was completed on the 3.7 MW DC Geddes project, expected to provide green energy to 500 homes [8] - SolarBank plans to develop multiple solar projects in New York, including two 7 MW DC projects and a 3 MW DC project, all expected to operate as community solar sites [8] - A partnership with TriMac Engineering aims to develop a 10 MW DC community solar garden in Nova Scotia [8] Strategic Focus - The company intends to pursue opportunities in data center colocation, aligning with its commitment to clean energy technologies [6] - SolarBank is exploring the development of agrivoltaics projects, integrating solar energy production with agricultural practices [8]
SolarBank Announces 2024 Highlights