SolarBank Corporation announced on November 7, 2024, its strategic expansion into the data center market, a sector projected to reach $395 billion by 2030. The company intends to pursue opportunities as a developer, owner, and strategic partner in data center infrastructure, aiming to provide sustainable energy solutions for the industry's growing demands.
The global data center market is experiencing exponential growth driven by cloud computing, artificial intelligence, big data analytics, and the Internet of Things. SolarBank aims to leverage its expertise in renewable energy to deliver energy-efficient, carbon-reducing data center solutions.
CEO Richard Lu stated that expanding into the data center business aligns with SolarBank's vision of creating a resilient and sustainable energy grid. The company is actively exploring partnerships and ownership opportunities with key players in data center infrastructure to support both immediate needs and long-term growth in this energy-intensive sector.
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