SolarBank Awarded $36 Million in EPC Contracts This news release constitutes a "designated news release" for the purposes of the Company's
prospectus supplement dated June 29, 2023 to its short form base shelf prospectus dated May 2, 2023.
TORONTO, Oct. 4, 2023 /CNW/ - SolarBank Corporation (CSE: SUNN) (OTC: SUUNF) (FSE: GY2) ("SolarBank" or the "Company") is pleased to announce that further to its press release of June 28, 2023, it has now entered into engineering, procurement, and construction ("EPC") agreements dated October 3, 2023 for the construction of three separate BESS projects (the "Projects") with a total contract value of approximately $36 million. The Projects are owned by Solar Flow-Through Funds, two First Nations communities, and a third party developer in Ontario (the "Investors"). The battery energy storage market is forecast by Fortune Business Insights to grow at a 16.3% compound annual growth rate from 2022 to reach US$31.2 billion by 2029.1
SolarBank Awarded $36 Million in EPC Contracts for Ontario Battery Energy System Storage Projects (newswire.ca)