SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FS
Post# of 90
(Total Views: 39)
Posted On: 05/27/2025 4:14:15 PM
SolarBank Corp. (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) Reports 395% Asset Growth in Current Fiscal Year, Focuses on Long-Term Recurring Revenue Strategy
- Total assets rose to $194 million as of March 31, 2025, as compared to the end of the last fiscal year, following a key acquisition.
- Revenue from the company’s independent power producer segment grew from $0.3 million to $6.6 million.
- This reflects the company’s focus on long-term income-generating assets, versus short-term engineering, procurement, and construction/project sales.
- During the third quarter, SolarBank executed several operational milestones that align with this longer-term focus.
Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (Cboe CA: 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., posted fiscal third-quarter results reflecting a sharp increase in total assets with a notable shift in its revenue model.
The company reported a 395% increase in assets, rising from $39.2 million as of June 30, 2024, to $194 million by March 31, 2025. This jump was primarily driven by the acquisition of Solar Flow-Through Funds Ltd., a strategic move that significantly expanded SolarBank’s asset base and supports its evolving business model as outlined in the Q3 update (https://nnw.fm/uMECJ ).
SolarBank is transitioning from a model focused on up-front Engineering, Procurement, and Construction (“EPC”) and project sales, toward building a portfolio of long-term income-generating assets through its Independent Power Producer (“IPP”) segment. While this shift may reduce short-term revenue, the long-term aim is a stable and recurring revenue stream.
Evidence of this transition can be seen in the company’s IPP revenue, which rose to $6.6 million during the nine-month period ended March 31, up from just $0.3 million in the previous year.
During the third quarter, SolarBank executed several operational milestones. The company sold its 3.26 MW Camillus Solar Project to Solar Advocate Development LLC for $7.3 million USD. Though the project sale represents immediate revenue, it also reflects SolarBank’s role in originating and maturing assets for its pipeline.
It also broke ground on its first battery energy storage system (“BESS”) project in Ontario. The construction is backed by a $25.8 million project finance facility from the Royal Bank of Canada, marking a key step in its expansion into hybrid energy storage solutions.
In the U.S., SolarBank announced a partnership with Viridi, a provider of fail-safe BESS technology, for the development of a 3.06 MW solar project with a 1.2 MWh BESS component in Buffalo, New York.
The company further disclosed a financing mandate with infrastructure investor CIM Group. The deal could unlock up to $100 million USD in project-based financing for a U.S. solar power portfolio totaling 97 MW. The CIM transaction is expected to be non-dilutive and represents a potential step-change in the scale of SolarBank’s project financing.
This shift toward long-term revenue generation through power production and storage assets is a notable strategy for investors looking beyond traditional solar EPC companies. With growing demand for clean energy and increasing interest in hybrid solutions that include storage, SolarBank is positioning itself to participate more fully in the infrastructure side of the sector.
“SolarBank continues the growth of its independent power producer portfolio. The non-dilutive CIM transaction will provide up to US$100 million in equity capital for projects that will transform SolarBank’s independent power producer asset base, creating long-term revenues for years to come,” said CEO Dr. Richard Lu. “As discussed in prior quarters, this strategy means less short-term revenue from EPC and project sales, but will have the benefit of stable long-term recurring revenues.”
For more information, visit the company’s website at SolarBankCorp.com.
This report contains forward looking information. Please refer to the press release entitled “SolarBank Announces Third Quarter Results” for additional details on the information, risks and assumptions.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://nnw.fm/SUUN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
- Total assets rose to $194 million as of March 31, 2025, as compared to the end of the last fiscal year, following a key acquisition.
- Revenue from the company’s independent power producer segment grew from $0.3 million to $6.6 million.
- This reflects the company’s focus on long-term income-generating assets, versus short-term engineering, procurement, and construction/project sales.
- During the third quarter, SolarBank executed several operational milestones that align with this longer-term focus.
Disseminated on behalf of SolarBank Corporation
SolarBank (NASDAQ: SUUN) (Cboe CA: 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., posted fiscal third-quarter results reflecting a sharp increase in total assets with a notable shift in its revenue model.
The company reported a 395% increase in assets, rising from $39.2 million as of June 30, 2024, to $194 million by March 31, 2025. This jump was primarily driven by the acquisition of Solar Flow-Through Funds Ltd., a strategic move that significantly expanded SolarBank’s asset base and supports its evolving business model as outlined in the Q3 update (https://nnw.fm/uMECJ ).
SolarBank is transitioning from a model focused on up-front Engineering, Procurement, and Construction (“EPC”) and project sales, toward building a portfolio of long-term income-generating assets through its Independent Power Producer (“IPP”) segment. While this shift may reduce short-term revenue, the long-term aim is a stable and recurring revenue stream.
Evidence of this transition can be seen in the company’s IPP revenue, which rose to $6.6 million during the nine-month period ended March 31, up from just $0.3 million in the previous year.
During the third quarter, SolarBank executed several operational milestones. The company sold its 3.26 MW Camillus Solar Project to Solar Advocate Development LLC for $7.3 million USD. Though the project sale represents immediate revenue, it also reflects SolarBank’s role in originating and maturing assets for its pipeline.
It also broke ground on its first battery energy storage system (“BESS”) project in Ontario. The construction is backed by a $25.8 million project finance facility from the Royal Bank of Canada, marking a key step in its expansion into hybrid energy storage solutions.
In the U.S., SolarBank announced a partnership with Viridi, a provider of fail-safe BESS technology, for the development of a 3.06 MW solar project with a 1.2 MWh BESS component in Buffalo, New York.
The company further disclosed a financing mandate with infrastructure investor CIM Group. The deal could unlock up to $100 million USD in project-based financing for a U.S. solar power portfolio totaling 97 MW. The CIM transaction is expected to be non-dilutive and represents a potential step-change in the scale of SolarBank’s project financing.
This shift toward long-term revenue generation through power production and storage assets is a notable strategy for investors looking beyond traditional solar EPC companies. With growing demand for clean energy and increasing interest in hybrid solutions that include storage, SolarBank is positioning itself to participate more fully in the infrastructure side of the sector.
“SolarBank continues the growth of its independent power producer portfolio. The non-dilutive CIM transaction will provide up to US$100 million in equity capital for projects that will transform SolarBank’s independent power producer asset base, creating long-term revenues for years to come,” said CEO Dr. Richard Lu. “As discussed in prior quarters, this strategy means less short-term revenue from EPC and project sales, but will have the benefit of stable long-term recurring revenues.”
For more information, visit the company’s website at SolarBankCorp.com.
This report contains forward looking information. Please refer to the press release entitled “SolarBank Announces Third Quarter Results” for additional details on the information, risks and assumptions.
NOTE TO INVESTORS: The latest news and updates relating to SUUN are available in the company’s newsroom at https://nnw.fm/SUUN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
(0)
(0)