SolarBank Corporation, after the successful completion of a $6,037,500 initial public offering (IPO), commenced trading on the Canadian Securities Exchange (CSE) on March 2 under the ticker symbol “SUNN.”
The independent renewable and clean energy project developer is focused on distributed and community solar projects in Canada and the US.
SolarBank has completed hundreds of solar power plants across an array of applications from rooftop installations to ground-mount solar farms for commercial and industrial (C&I) clients, including Fortune 500 companies, utilities, municipalities, and more, the company noted in a press release.
The company is currently operating more than 100 solar plants with a capacity of more than 60 megawatts, SolarBank said.
"The IPO represents not only a milestone for our company and investors but an inflection point as well," commented SolarBank CEO and president Dr Richard Lu.
"We have grown methodically to galvanize our reputation in our focus markets and now, with thousands of C&I and community solar projects becoming available across North America amid an unprecedented push for decarbonization and surging demand for clean energy, we are in an optimal position for horizontal and vertical expansion.
“I'd like to welcome all the new investors that have joined us and look forward to frequent updates as we move into this new phase of growth."
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