- SolarBank is pursuing opportunities as a developer, owner and strategic partner in data center infrastructure, a major energy-hungry expansion market fed by the growing AI and general technology drive.
- The company aims to deliver energy-efficient, carbon-reducing data center solutions that support both immediate needs and long-term growth.
- The global data center market is seeing exponential growth, expected to reach $395 billion USD by 2030, propelled by surging demand for artificial intelligence, cloud computing, big data analytics, and IoT.
- SolarBank is joining global tech giants invested in expanding data center capacity, including Amazon, Microsoft, Google, Meta Platforms, and Apple, and building on the recent U.S. announcement of a $500 billion USD private sector investment over the next four years to expand artificial intelligence infrastructure.
Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (CSE: SUNN) (NEO: 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., is expanding into the rapidly growing data center market. The strategic move is seen as reconfirming the company’s commitment to harnessing clean energy technologies at a time when the U.S. is planning to invest heavily in the development of private sector artificial intelligence infrastructure.
The company is pursuing opportunities as a developer, owner and strategic partner in data center infrastructure, supporting the demand for high-performance, sustainable energy solutions within the sector (https://ibn.fm/kFmUd). By leveraging partnerships and ownership opportunities with key players in data center infrastructure partnerships, SolarBank aims to deliver energy-efficient, carbon-reducing data center solutions that support both immediate needs and long-term growth.
SolarBank enters the global data center market at a time of exponential growth, as the sector is projected to reach $395 billion USD by 2030, driven by surging demand for cloud computing, artificial intelligence, big data analytics, and the Internet of Things (“IoT”) (https://ibn.fm/HBHkf). The industry’s vast energy requirements underscore an urgent need for scalable, eco-friendly solutions — a need that SolarBank is positioned to fulfill given its proven expertise in renewable energy.
With a focus on sustainability and reducing environmental impact, the company is thus joining the ranks of leading global companies invested in expanding data center capacity, including Amazon, Microsoft, Google, Meta Platforms, and Apple. Collectively, these tech giants have invested over $100 billion USD in data center infrastructure over the past five years. In addition, reputable data center providers such as Equinix, Digital Realty and CyrusOne have also made significant investments to address the digital economy’s need for resilient and efficient data facilities.
The move comes as the new administration just announced a $500 billion USD private sector investment over the next four years to build artificial intelligence infrastructure in the United States (https://ibn.fm/0FsiV). This investment would be largely supported by companies such as OpenAI, Softbank and Oracle, under a joint venture called Stargate. Ten data centers for the project are already under construction in Texas, and more are planned, according to Oracle Executive Chairman Larry Ellison. Other investors are expected to join the venture in the near future.
According to SolarBank CEO Richard Lu, expanding into the data center business aligns with the company’s vision of creating a resilient and sustainable energy grid. “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. “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.”
For more information, visit the company’s website at SolarBankCorp.com.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://ibn.fm/SUUN
There are several risks associated with the development of any data center. SolarBank is expanding into the data center industry but it does not currently have any data center projects under development or that it has secured rights to. SolarBank does not have any contracts with the parties mentioned in this news release. 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. The development of any data center project is subject to identification of a suitable project site, receipt of required permits, entry into contracts for construction and the use of the data center, the availability of third-party financing arrangements for the company and the risks associated with the construction of a data center. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for renewable energy, which could result in future projects no longer being economic.
This report contains forward looking information. Please refer to https://ibn.fm/G76GJ for additional details.
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