On May 6, 2025, SolarBank Corporation announced that it entered into a Mandate Letter with CIM Group for project-based financing of up to US$100 million (approximately C$137 million) to support a 97 MW portfolio of solar power projects in the U.S. The investment will be structured as non-convertible preferred equity in a newly formed joint venture entity, New HoldCo, owned by CIM and SolarBank subsidiary Abundant Solar Power Inc. No SolarBank securities will be issued. CIM will provide 20% of the purchase price at each project's mechanical completion and the remaining 80% at substantial completion. CIM will receive a 3% annual coupon and retain full proceeds from the sale of investment tax credits under Section 6418 of the Internal Revenue Code. SolarBank will maintain majority ownership of the project portfolio and may redeem CIM’s equity interest five years after the last project is in service. If SolarBank does not exercise this call option, CIM may require a redemption based on a lower valuation metric. The transaction is subject to definitive documentation and standard conditions precedent, with no funding available until key project milestones are met. Risks include interconnection approval, permitting, and potential changes to solar incentive programs.