SolarBank Corporation announced that it has completed mechanical construction on the 3.7 MW DC Geddes project (the "Project") that is being developed by the Company in Geddes, New York. The next step is completion of final electrical work and acceptance testing. The Project is expected to become operational during the second quarter of 2024.

Subject to receipt of financing, the Company intends to own and operate the Geddes project. The Project which has a designed capacity of 3.7 megawatts (MW) DC is repurposing a closed landfill, addressing two critical challenges: the need for clean energy and the transformation of contaminated sites into valuable assets.