PowerBank Stock Price, News & Analysis

SolarBank Corporation (NASDAQ: SUUN) has announced it will release its financial results for Q1 2025 (quarter ended March 31, 2025) after the Nasdaq market close on May 15, 2025. The company will host a webinar at 4:30 PM Eastern Time on the same day to discuss the quarterly results and provide a business update. Investors can register for the webinar through Microsoft Teams to receive detailed joining information.

SolarBank Corporation (NASDAQ: SUUN) has filed a new final short form base shelf prospectus with Canadian securities regulators and a corresponding shelf registration statement with the SEC. The new shelf prospectus replaces the previous one from May 2023 and allows the company to offer up to C$200 million in various securities over a 25-month period. The offerings can include common shares, debt securities, warrants, subscription receipts, units, and share purchase contracts, with specific terms to be determined based on market conditions.

The funds raised will be used to advance business objectives, fund ongoing operations, repay debt, support capital programs, and potentially finance future acquisitions. The timing and size of any offerings will depend on the company's funding requirements and market conditions.

SolarBank Corporation (NASDAQ: SUUN) announced its participation in the upcoming D. Boral Capital Inaugural Global Conference on May 14, 2025. The event will be held at The Plaza Hotel in New York City. CEO Dr. Richard Lu will be available for one-on-one meetings from 9:00 A.M. to 3:00 P.M. (ET). Interested parties can schedule meetings by contacting John Perez at jperez@dboralcapital.com.

SolarBank has announced plans to develop a 7.2 MW DC ground-mount solar power project in upstate New York, known as the Glor Rd project. The initiative is expected to power approximately 850 homes through a community solar model.

The project has secured a site lease and is undergoing an interconnection study. It will utilize the VDER rate compensation mechanism, projecting a year-one average compensation of $0.0971/kWh. The development is eligible for NYSERDA NY-Sun Program incentives, targeting up to $0.245/W DC.

Through partnership with Solar Simplified, which manages customer-facing activities, the project will operate as a community solar installation. This model allows local residents to benefit from solar power without installing panels on their homes, earning credits on their electric bills through subscription.

The project is part of SolarBank's expanding development pipeline, which exceeds one gigawatt, demonstrating their commitment to advancing community solar initiatives in New York.

SolarBank (NASDAQ: SUUN) has announced plans to develop a 4.584 MW DC ground-mount solar power project in upstate New York, known as the Forest Hill Rd project. The project, expected to power 540 homes, will operate as a community solar installation with VDER rate compensation projected at $0.0971/kWh for year one.

The project has secured a site lease and is undergoing interconnection study. It qualifies for NYSERDA NY-Sun Program incentives, targeting up to $0.345/W DC. SolarBank has partnered with Solar Simplified to handle customer-facing activities, ensuring full project subscription and maximized revenue.

Notably, CEO Dr. Richard Lu addressed recent tariff increases on southeast Asian solar cells, stating that SolarBank's operations remain unaffected as they don't import from the targeted countries. The company is exploring alternative sourcing from the Middle East and North America, while maintaining development opportunities in Canada where such tariffs don't apply.

SolarBank (NASDAQ: SUUN) has refiled its Audited Consolidated Annual Financial Statements for the fiscal year ended June 30, 2024. The refiling was done at the request of Ontario Securities Commission Staff during a prospectus review. The only modification to the originally filed statements from September 30, 2024, was the inclusion of the report from the company's predecessor independent auditor, MSLL CPA LLP, alongside the current auditor's (ZH CPA, ) report. No other changes were made to the 2024 Financial Statements.

SolarBank (NASDAQ: SUUN) has retained Jonathan Martone and Martone Advisors to support its strategic expansion into the data center market. Martone, with over 25 years of leadership experience in data center and telecommunications industries, will assist in evaluating and introducing new data center opportunities.

Following the Company's November 2024 announcement of its data center market expansion, Martone will leverage his expertise in site selection, power infrastructure, and utility interconnection. His extensive experience includes planning hundreds of build-to-suit and multi-tenant designs, working with notable clients like EdgeConneX and Form8tion Data Centers.

While SolarBank is actively pursuing data center opportunities, the company currently has no secured projects under development. The expansion faces various risks, including site identification, permit requirements, construction contracts, and financing arrangements.