S
olarBank Corporation (NASDAQ: SUUN) is nearing completion of a 1.4-Megawatt rooftop solar project in Calgary, Alberta, for Fiera Real Estate Investments Limited. The project is expected to become operational by November 2024 as a small-scale generator in the Alberta Interconnected Electric System (AIES). This pilot project marks a significant step towards SolarBank's and Fiera Real Estate's mutual goals of long-term growth and contributing to the global energy transition.

    Fiera Real Estate, a leading investment management company with over $7.4 billion USD in commercial real estate under management, has committed to its Net Zero Pathway with targets of Net Zero Carbon by 2040 for two of its funds. The project is part of Fiera's efforts to expand its sustainability initiatives and reduce carbon emissions.

    SolarBank is providing full-service development and engineering, procurement, and construction (EPC) services for the project under an EPC agreement with Fiera Real Estate. Following the completion of this pilot project, SolarBank expects to complete additional projects for Fiera Real Estate in the future.

    "We are thrilled to be nearing completion of our first project for Fiera Real Estate," stated Dr. Richard Lu, SolarBank's CEO. "We are looking forward to what's ahead for our partnership with Fiera Real Estate and continuing to develop projects that advance sustainability initiatives for our partners and communities."

    SolarBank Corporation is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the USA. The company develops solar, Battery Energy Storage System (BESS), and EV Charging projects that sell electricity to utilities, commercial, industrial, municipal, and residential off-takers.

    There are risks associated with the development of the Project, including potential changes in government incentives and policy support schemes for solar power. Please refer to "Forward-Looking Statements" for additional discussion of the assumptions and risk factors associated with the statements in this press release.