- The company announced its expansion into the $395 billion global data center market as a developer, owner, and strategic partner.
- The move underscores SolarBank’s commitment to integrating renewable energy in diverse, emerging sectors.
- AI data centers are projected to need 30 times more power by 2035, creating a critical opportunity for clean energy solutions.
- The company joins tech giants and specialized data center providers focused on sustainability and resilience in digital infrastructure.
Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2), a premier developer and owner of renewable and clean energy projects, specializing in distributed and community solar initiatives throughout Canada and the U.S., continues its focus on the rapidly growing data center sector, highlighting its plan to serve as a developer, owner, and partner in one of the world’s fastest-expanding infrastructure markets. This focus comes as the global data center industry is forecast to reach $395 billion by 2030, fueled by explosive demand for cloud computing, big data, and artificial intelligence technologies (https://ibn.fm/8SI6a).
SolarBank’s focus arrives at a pivotal time for the sector. According to Deloitte, the power consumption of AI data centers could jump from 4 gigawatts today to 123 gigawatts by 2035, a thirtyfold increase that will stretch existing power grids and infrastructure (https://ibn.fm/bFoCC). The scale of that growth underscores a crucial challenge: meeting enormous power demands while maintaining environmental responsibility.
Richard Lu, CEO of SolarBank, described the expansion as a natural progression of the company’s mission (https://ibn.fm/ohBpQ). “Our experience in renewable energy will enable us to deliver energy-efficient, carbon-reducing data centers to support today’s data needs and tomorrow’s technological advancements,” Lu said.
The stakes are high. Deloitte warns that while data centers can be built relatively quickly, delays in power infrastructure, including long lead times for new gas plants and seven-year waits for grid connections, risk bottlenecking AI growth. Simultaneously, the data center sector faces skilled labor shortages, supply chain challenges, and increasingly strict environmental regulations, complicating timelines for construction and permitting.
Amid these headwinds, SolarBank is positioning its renewable energy expertise as a potential solution. The company intends to build partnerships in energy-efficient, low-carbon data center infrastructure, addressing the industry’s carbon footprint and helping data centers meet their sustainability targets. SolarBank’s move parallels efforts by Amazon, Google, and Microsoft, which have poured billions into ensuring their data centers align with climate goals.
In fact, large tech companies and specialized data center operators, from Meta Platforms to Equinix and Digital Realty, have collectively invested over $100 billion in new facilities over the past five years. Like SolarBank, these firms see sustainability as a critical differentiator as they navigate rising power demands and public pressure to decarbonize.
SolarBank is expanding into the data center industry, but does not currently have any data center projects under development nor any for which it has secured rights. SolarBank does not have any contracts with the parties mentioned in this report. It is in discussions with various other parties regarding potential data center opportunities and will provide details in a future news release if an agreement to acquire or develop a data center is concluded.
As SolarBank broadens its reach, it is exploring strategic partnerships with existing data center developers and infrastructure specialists. The company aims to create solutions that are scalable, resilient, and future-focused, offering not only power capacity but also lower carbon intensity in an industry often criticized for its heavy energy consumption.
As Lu noted, “Expanding into the data center business aligns with our vision of creating a resilient and sustainable energy grid.” That vision appears increasingly relevant as the global economy grows more dependent on digital infrastructure and the electricity to power it.
SolarBank’s foray into data centers underscores its commitment to integrating renewables across emerging and diverse markets, tapping into a powerful trend of decarbonization in mission-critical infrastructure. “As the world accelerates toward a future driven by AI, automation, and clean energy, SolarBank remains committed to delivering innovative, scalable solutions that not only power industries but also empower communities,” Lu concluded.
For more information, visit the company’s website at SolarBankCorp.com.
This report contains forward looking information. Please refer to the press release entitled “SolarBank Expands into the projected $395 Billion Data Center Market as Developer and Strategic Partner” for additional details.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://ibn.fm/SUUN
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