- 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…
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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