SolarBank Raises Fresh Cash For Renewable Energy Expansion

North American solar energy infrastructure is on the rise. And now, a publicly traded company has raised a fresh round of funding to build a new project in New York.

‍What’s happening:‍

• SolarBank (NASDAQ: SUUN) has successfully raised $8.5M USD in a new equity financing round
  

Why it matters:‍

• SolarBank is developing large scale community solar projects throughout North America and has already successfully developed over 100 megawatts of renewable energy infrastructure
  

Going deeper:‍

• The new equity financing round comes just after SolarBank cut a new deal with the Royal Bank of Canada for a multi million dollar financing facility to complete two new projects under development focused on energy storage
  
• SolarBank has publicly stated they plan to use the new cash infusion to build out their community solar project located in New York
  

The intrigue:‍

• Solar energy in America continues to be an emerging theme, with renewable energy company Ameresco (NYSE: AMRC) previously cutting a notable deal with UCI Health to power their newest hospital entirely through solar panels

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