SolarBank Secures $100 Million Financing for 97 MW Solar Portfolio

SolarBank Corporation (NASDAQ: SUUN) has secured up to $100 million in project-level preferred equity financing for a comprehensive 97 MW solar power portfolio across the United States. The innovative financing arrangement, structured through a joint venture with SolarBank subsidiary Abundant Solar Power Inc., represents a strategic move in expanding renewable energy infrastructure. Under the terms of the mandate letter with CIM Group, the financing will not involve issuing new SolarBank shares. Instead, CIM will acquire non-convertible preferred equity in the venture, with SolarBank maintaining majority ownership of the 21 solar projects.

The agreement includes a sophisticated revenue-sharing model, tax credit transfers, and redemption rights after a five-year holding period, contingent upon final documentation and development milestones. This financing represents a significant advancement for SolarBank, which focuses on developing distributed and community solar projects across North America. The company has already demonstrated substantial progress in the renewable energy sector, with a potential development pipeline exceeding one gigawatt and a track record of developing renewable energy projects totaling over 100 megawatts.

The solar portfolio's development signals continued momentum in the transition toward clean energy infrastructure, highlighting the growing investment potential in renewable energy projects. By securing robust project-level financing, SolarBank reinforces its position as a key player in advancing sustainable energy solutions across commercial, industrial, municipal, and residential markets. The financing structure through https://www.cimgroup.com provides a model for future renewable energy project funding without diluting existing shareholder equity, while maintaining operational control through majority ownership.

This transaction demonstrates the increasing sophistication of renewable energy financing mechanisms and the growing confidence of institutional investors in solar power projects. The revenue-sharing arrangement and tax credit transfers represent innovative approaches to maximizing returns for both the developer and the financing partner. The five-year holding period with redemption rights provides stability while allowing for future flexibility in project ownership and management. This financing arrangement sets a precedent for how solar development companies can leverage project-level equity to accelerate renewable energy deployment across multiple markets and project types.