FORWARD-LOOKING STATEMENTS<\/strong><\/p>\n\n\n\nThis news release contains forward-looking statements and forward-looking information \u200ewithin the meaning of Canadian securities legislation (collectively, “forward-looking \u200estatements”) that relate to the Company’s current expectations and views of future events. \u200eAny statements that express, or involve discussions as to, expectations, beliefs, plans, \u200eobjectives, assumptions or future events or performance (often, but not always, through the \u200euse of words or phrases such as “will likely result”, “are expected to”, “expects”, “will \u200econtinue”, “is anticipated”, “anticipates”, “believes”, “estimated”, “intends”, “plans”, “forecast”, \u200e\u200e”projection”, “strategy”, “objective” and “outlook”) are not historical facts and may be \u200eforward-looking statements and may involve estimates, assumptions and uncertainties \u200ewhich could cause actual results or outcomes to differ materially from those expressed in \u200esuch forward-looking statements. In particular and without limitation, this news release \u200econtains forward-looking statements pertaining to the Company’s expectations regarding industry trends and overall market growth; the Company’s growth strategies; the expected energy production from the battery storage projects mentioned in this press release; the megawatt capacity and type of future solar projects; the Company’s future involvement with respect to these projects; the total contract value of the EPC agreements; the completion timeline for the Projects; and the Company’s development pipeline. No assurance \u200ecan be given that these expectations will prove to be correct and such forward-looking \u200estatements included in this news release should not be unduly relied upon. These \u200estatements speak only as of the date of this news release.\u200e<\/p>\n\n\n\n
Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties. In making the forward looking statements included in this news release, the Company has made various material assumptions, including but not limited to: the Company’s bid is accepted; obtaining the necessary regulatory approvals; that regulatory requirements will be maintained; general business and economic conditions; the Company’s ability to successfully execute its plans and intentions; the availability of financing on reasonable terms; the Company’s ability to attract and retain skilled staff; market competition; the products and services offered by the Company’s competitors; that the Company’s current good relationships with its service providers and other third parties will be maintained; and government subsidies and funding for renewable energy will continue as currently contemplated. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and the Company cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking statements.<\/p>\n\n\n\n
Whether actual results, performance or achievements will conform to the Company’s expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including those listed under “Forward-\u200eLooking Statements” and “Risk \u200eFactors” in the final long form prospectus of the Company dated February 10, 2023, <\/em>and other public filings of the Company, which include: the Company’s bid is not accepted and the battery storage projects do not proceed; the Company may be adversely affected by volatile solar power market and industry conditions; the execution of the Company’s growth strategy depends upon the continued availability of third-party financing arrangements; the Company’s future success depends partly on its ability to expand the pipeline of its energy business in several key markets; governments may revise, reduce or eliminate incentives and policy support schemes for solar and battery storage power; general global economic conditions may have an adverse impact on our operating performance and results of operations; the Company’s project development and construction activities may not be successful; developing and operating solar projects exposes the Company to various risks; the Company faces a number of risks involving Power Purchase Agreements (“PPAs”) and project-level financing arrangements; any changes to the laws, regulations and policies that the Company is subject to may present technical, regulatory and economic barriers to the purchase and use of solar power; the markets in which the Company competes are highly competitive and evolving quickly; an anti-circumvention investigation could adversely affect the Company by potentially raising the prices of key supplies for the construction of solar power projects; foreign exchange rate fluctuations; a change in the Company’s effective tax rate can have a significant adverse impact on its business; seasonal variations in demand linked to construction cycles and weather conditions may influence the Company’s results of operations; the Company may be unable to generate sufficient cash flows or have access to external financing; the Company may incur substantial additional indebtedness in the future; the Company is subject to risks from supply chain issues; risks related to inflation; unexpected warranty expenses that may not be adequately covered by the Company’s insurance policies; if the Company is unable to attract and retain key personnel, it may not be able to compete effectively in the renewable energy market; there are a limited number of purchasers of utility-scale quantities of electricity; compliance with environmental laws and regulations can be expensive; corporate responsibility may adversely impose additional costs; the future impact of COVID-19 on the Company is unknown at this time; the Company has limited insurance coverage; the Company will be reliant on information technology systems and may be subject to damaging cyberattacks; the Company may become subject to litigation; there is no guarantee on how the Company will use its available funds; the Company will continue to sell securities for cash to fund operations, capital expansion, mergers and acquisitions that will dilute the current shareholders; and future dilution as a result of financings.<\/p>\n\n\n\nThe Company undertakes no obligation to update or revise any \u200eforward-looking statements, whether as a result of new information, future events or \u200eotherwise, except as may be required by law. New factors emerge from time to time, and it \u200eis not possible for the Company to predict all of them, or assess the impact of each such \u200efactor or the extent to which any factor, or combination of factors, may cause results to \u200ediffer materially from those contained in any forward-looking statement. Any forward-\u200elooking statements contained in this news release are expressly qualified in their entirety by \u200ethis cautionary statement.\u200e<\/p>\n\n\n\n
SOURCE SolarBank Corporation<\/p>\n\n\n\nCision<\/figcaption><\/figure>\n\n\n\nView original content to download multimedia: http:\/\/www.newswire.ca\/en\/releases\/archive\/October2023\/04\/c2791.html<\/a><\/p>\n\n\n\n<\/a> <\/a> <\/a> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"This news release constitutes a “designated news release” for the purposes of the Company’sprospectus supplement dated June 29, 2023 to its short form base shelf prospectus dated May 2, 2023. TORONTO, Oct. 4, 2023 \/CNW\/ – SolarBank Corporation (CSE: SUNN) (OTC: SUUNF) (FSE: GY2) (“SolarBank” or the “Company”) is \u200epleased to announce that further to its press release of June 28, 2023, it has now… View Article<\/a>","protected":false},"author":3,"featured_media":20008,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":0,"footnotes":""},"categories":[10,31,7,13,16],"tags":[],"acf":[],"yoast_head":"\nSolarBank Awarded $36 Million in EPC Contracts for Ontario Battery Energy System Storage Projects - MarketDepth<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n