Bell2Bell’s latest podcast features Dr. Richard Lu, President and CEO of SolarBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN), a premier developer and owner of renewable and clean energy projects specializing in distributed and community solar initiatives throughout Canada and the United States.
During the interview, Lu discussed SolarBank’s business model and value proposition for investors.
“When you look at civilization over the years, originally, we depended on the sun to give us light for agriculture. Then, we relied on burning oil to break the darkness of the night. During industrialization, electricity allowed us to keep the lights on and now keeps us all connected. The driving force behind today’s digital economy is electricity. SolarBank is a clean and renewable power supplier focused on delivering electricity from non-emitting sources. That has been the mission and vision of the company for over 12 years.”
Lu also provided insight into the company’s current pipeline and near-term goals.
“We recently signed a $50 million USD contract with Qcells and are also building a 60 MWh battery storage project that we will own. As a vertically integrated company, we handle development, construction and ownership. Our pipeline includes solar, battery storage and EV charging projects totaling over 1 gigawatt of capacity across Canada and the U.S.”
“This year, we plan to continue delivering to the Honeywell portfolio with additional projects while fulfilling the Qcells contract. We are also expanding our portfolio with major infrastructure projects. Last year, through a $45 million valued all-stock deal, we acquired solar assets developed by our team over the past decade, which are now contributing to our recurring revenue. We currently own about $180 million in assets. In terms of revenue, we generated approximately $60 million in fiscal 2024, and, as of January, we have secured major contracts supporting our continued growth.”
Join IBN’s Carmel Fisher and Dr. Richard Lu, President and CEO of SolarBank Corporation, as they discuss SolarBank’s long-term goals and strategy for capitalizing on forecast growth, particularly in the data center industry.
To hear the episode and subscribe for future podcasts, visit https://podcast.bell2bell.com.
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