• $25.8 million financing from the Royal Bank of Canada will be used for a 4.99 MW Ontario-based battery energy storage system consisting of two projects, SFF-06 and 903.
• The projects mark SolarBank's first foray into energy storage, a market expected to reach $31.2 billion USD by 2029.
• The project benefits from a 22-year contract with Ontario's electricity operator, ensuring stable revenue.
• SolarBank is leveraging government incentives, including a 30% Clean Technology Investment Tax Credit.
• Anvil Crawler Development Corp. was awarded a $1.85 million contract for civil and electrical work on the project.

Disseminated on behalf of SolarBank Corporation

SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., has announced that construction began on its first battery energy storage system ("BESS") in Ontario during the week of February 10, 2025 (https://ibn.fm/smENa).

The project, known as SFF-06, is located in Cramahe, Ontario, and represents SolarBank's entry into the fast-growing battery storage sector. The project will store energy to help balance the electrical grid and…

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NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company's newsroom at https://ibn.fm/SUUN

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