30 MW Ground Mount Sites in Orleans County, New York Secured Under Lease by SolarBank

SolarBank Corporation (Nasdaq: SUUN) (Cboe CA: SUNN) (FSE: GY2) ("SolarBank" or the "Company") announces that it has executed lease agreements on five sites totalling 94 acres site in Orleans County, New York. SolarBank intends to develop ground-mount solar power project on the sites that would have a combined capacity of 30 MW DC (the "Projects"). The Projects are expected to be eligible for incentives under the New York State Energy Research and Development Authority ("NYSERDA") NY-Sun Program.

The Company has submitted its initial interconnection request for the Projects and is awaiting the results of that process. Following receipt of interconnection approval, the Company will work to complete the permitting process and secure the necessary financing for the construction of the Projects.

Once completed, the Projects will be operated as a community solar project. Community solar is a group of solar panels with access to the local electricity grid. Once the panels are turned on and generating electricity, clean energy from the site feeds into the local power grid. Depending on the size and number of panels the project has, dozens or even hundreds of renters and homeowners can save money from the electricity that is generated by the project. By subscribing to a project, a homeowner earns credits on their electric bill every month from their portion of the solar that's generated by the project, accessing the benefits of solar without installing panels on their home.

SolarBank | www.solarbankcorp.com