4.3 MW Glen Rd Solar Project in Development by SolarBank in New York

SolarBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) ("SolarBank" or the "Company") is pleased to announce its plans to develop a 4.3 MW DC ground-mount solar power project known as the Glen Rd project (the "Project") on a site located in upstate New York. With a secured site lease and interconnection study underway, the Project is another key addition to SolarBank's expanding development pipeline—which exceeds one gigawatt—as well as the Company's commitment to advancing community solar.

Assuming the Project's interconnection study is successful, the Company will continue to work to complete the permitting process and secure the necessary financing for the construction of the Project. The Project is expected to be eligible for incentives under the New York State Energy Research and Development Authority ("NYSERDA") NY-Sun Program.

Once completed, the Project 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.

Solar Simplified handles all customer-facing activities for the Company's community solar projects, allowing it to focus on developing and expanding its renewable energy portfolio. Solar Simplified's expertise in acquisition, enrollment, and management ensures full project subscription and maximized revenue from day one. With a business model that aligns seamlessly with the Company's, this partnership drives sustainable growth, enabling the Company to accelerate development, bring more projects online each year, and create greater value for its business and the communities served by the Company.

SolarBank Corporation | www.solarbankcorp.com