SolarBank Corporation has announced the renewal of its at-the-market (ATM) equity program, a strategic move allowing the issuance of up to US$15 million in common shares. This initiative, facilitated through designated agents including H.C. Wainwright & Co., Research Capital Corporation, and Research Capital USA Inc., aims to support corporate operations, capital programs, debt repayment, and potential acquisitions. The shares will be offered at prevailing market prices, with sales being discretionary and not guaranteed.
This financial strategy highlights SolarBank's dedication to expanding its renewable and clean energy projects portfolio. Specializing in distributed and community solar projects across Canada and the USA, alongside Battery Energy Storage System (BESS) and EV Charging projects, SolarBank targets a broad spectrum of electricity off-takers. With a development pipeline exceeding one gigawatt and over 100 megawatts of projects already developed, the company is set to significantly impact the North American renewable energy landscape.
The ATM equity program renewal is pivotal for SolarBank, enabling it to leverage the increasing demand for clean energy solutions. The additional funding will expedite project development, operational enhancements, and exploration of new acquisitions. This development is crucial for investors and stakeholders, showcasing SolarBank's proactive financing strategies to drive growth and maintain its leadership in the renewable energy sector.
