I have the same issue. LeMaker Banana Pi, has been running fine with older Raspbian image. Needed to update it for a few reasons, but SATA not recognized:
# dmesg|egrep -i '(banana|ahci|sata)'
[ 0.000000] OF: fdt: Machine model: LeMaker Banana Pi
[ 3.588009] ahci-sunxi 1c18000.sata: 1c18000.sata supply ahci not found, using dummy regulator
[ 3.588108] ahci-sunxi 1c18000.sata: 1c18000.sata supply phy not found, using dummy regulator
[ 3.588174] ahci-sunxi 1c18000.sata: 1c18000.sata supply target not found, using dummy regulator
[ 3.620545] ahci-sunxi 1c18000.sata: PHY power up failed.
[ 3.620775] ahci-sunxi: probe of 1c18000.sata failed with error -5
# dpkg -l | grep linux-
ii binutils-arm-linux-gnueabihf 2.30-21ubuntu1~18.04.2 armhf GNU binary utilities, for arm-linux-gnueabihf target
iF linux-base 4.5ubuntu1.1 all Linux image base package
ii linux-bionic-root-current-bananapi 20.02.5 armhf Armbian tweaks for bionic on bananapi (current branch)
ii linux-dtb-current-sunxi 20.02.7 armhf Linux DTB, version 5.4.28-sunxi
ii linux-image-current-sunxi 20.02.7 armhf Linux kernel, version 5.4.28-sunxi
ii linux-libc-dev:armhf 4.15.0-91.92 armhf Linux Kernel Headers for development
ii linux-u-boot-bananapi-current 20.02.5 armhf Uboot loader 2019.10
also changed to linux-u-boot-bananapi-legacy but made no difference.
I can insert older SD card in, and SATA works fine.
PSU is fine.
Happy to help troubleshoot.