Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (CSE: SUNN) reported its fiscal second-quarter results, highlighting a substantial increase in independent power producer (IPP) revenue to $5.4 million from $0.1 million year over year. The company’s gross profit rose to $5.9 million, representing 29.2% of revenues, compared to $4.8 million or 18.4% in the prior year. Adjusted EBITDA reached $2.4 million, up from $0.3 million in 2024, while total assets surged 372% to $185.3 million following the Solar Flow-Through Funds Ltd. acquisition. Despite these gains, the company posted a net loss of $1.9 million, or $0.06 per basic share, compared to a net income of $2.0 million in 2024. Key corporate milestones include a $49.5 million transaction with Qcells for four New York solar projects and a $25.8 million financing deal with Royal Bank of Canada to develop battery energy storage systems.
To view the full press release, visit https://ibn.fm/hLEkk
About SolarBank Corporation
SolarBank Corporation is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in Canada and the USA . The Company develops solar, Battery Energy Storage System (BESS) and EV Charging projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. The Company maximizes returns via a diverse portfolio of projects across multiple leading North America markets including projects with utilities, host off-takers, community solar, and virtual net metering projects. The Company has a potential development pipeline of over one gigawatt and has developed renewable and clean energy projects with a combined capacity of over 100 megawatts built.
For more information, visit the company’s website at SolarBankCorp.com. This report contains forward looking information. Please refer to https://ibn.fm/G76GJ 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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