NetworkNewsBreaks – SolarBank Corp. (NASDAQ: SUU
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Posted On: 05/06/2025 4:34:52 PM
NetworkNewsBreaks – SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) Secures Up to $100 Million in Project Financing for 97 MW U.S. Solar Portfolio
Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) has entered into a mandate letter with CIM Group to secure up to $100 million in project-level preferred equity financing for 97 MW of solar power projects in the U.S. The financing, structured through a joint venture with SolarBank subsidiary Abundant Solar Power Inc., will not involve the issuance of new SolarBank shares. CIM will acquire non-convertible preferred equity in the venture, with SolarBank retaining majority ownership of the 21 projects. The deal includes a revenue-sharing model, tax credit transfers, and redemption rights after a five-year holding period, pending final documentation and development milestones.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://nnw.fm/SUUN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) has entered into a mandate letter with CIM Group to secure up to $100 million in project-level preferred equity financing for 97 MW of solar power projects in the U.S. The financing, structured through a joint venture with SolarBank subsidiary Abundant Solar Power Inc., will not involve the issuance of new SolarBank shares. CIM will acquire non-convertible preferred equity in the venture, with SolarBank retaining majority ownership of the 21 projects. The deal includes a revenue-sharing model, tax credit transfers, and redemption rights after a five-year holding period, pending final documentation and development milestones.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://nnw.fm/SUUN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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