{"id":813946,"date":"2025-02-18T07:24:08","date_gmt":"2025-02-18T12:24:08","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-announces-second-quarter-results\/"},"modified":"2025-02-18T07:24:08","modified_gmt":"2025-02-18T12:24:08","slug":"solarbank-announces-second-quarter-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-announces-second-quarter-results\/","title":{"rendered":"SolarBank Announces Second Quarter Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p class=\"prntac\">\n        <b><br \/>\n          <i>Gross margins improved to 29.2% led by a growing independent power producer (&#8220;IPP&#8221;) revenue base.<\/i><br \/>\n        <\/b>\n      <\/p>\n<p class=\"prntac\">This news release constitutes a &#8220;designated news release&#8221; for the purposes of the Company&#8217;s prospectus supplement dated <span class=\"xn-chron\">May 23, 2024<\/span>, to its short form base shelf prospectus dated <span class=\"xn-chron\">May 2, 2023<\/span>.<\/p>\n<p>\n        <span class=\"legendSpanClass\"><br \/>\n          <span class=\"xn-location\">TORONTO<\/span><br \/>\n        <\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Feb. 18, 2025<\/span><\/span> \/PRNewswire\/ &#8211;<b><a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4363502-1&amp;h=1121094316&amp;u=http%3A%2F%2Fwww.solarbankcorp.com%2F&amp;a=SolarBank+Corporation\" target=\"_blank\" rel=\"nofollow\">SolarBank Corporation<\/a><\/b> (Nasdaq: SUUN) (Cboe CA: SUNN) (FSE: GY2)<b> (&#8220;SolarBank&#8221; or the &#8220;Company&#8221;)<\/b> reports its fiscal second quarter and fiscal 2025 interim financial results. All financial figures are in Canadian dollars and in accordance with International Financial Reporting Standards (IFRS) as presented in the interim consolidated financial statements.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2620968\/SolarBank_Corporation_SolarBank_Announces_Second_Quarter_Results.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2620968\/SolarBank_Corporation_SolarBank_Announces_Second_Quarter_Results.jpg\" title=\"SolarBank Logo (CNW Group\/SolarBank Corporation)\" alt=\"SolarBank Logo (CNW Group\/SolarBank Corporation)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <b><br \/>\n          <u>Fiscal Year-to-Date Financial Highlights (All amounts are for the six-months period ended <span class=\"xn-chron\">December 31, 2024<\/span>)<\/u><br \/>\n        <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>IPP revenue increased from <span class=\"xn-money\">$0.1 million<\/span> to <span class=\"xn-money\">$5.4 million<\/span> during the period.<\/li>\n<li>Gross profit was <span class=\"xn-money\">$5.9 million<\/span>, or 29.2% of revenues, compared to <span class=\"xn-money\">$4.8 million<\/span>, or 18.4% of revenues in 2024.<\/li>\n<li>Adjusted EBITDA<sup>(1) <\/sup> of <span class=\"xn-money\">$2.4 million<\/span> compared to <span class=\"xn-money\">$0.3 million<\/span> for 2024.<\/li>\n<li>Growth in assets increased 372% to <span class=\"xn-money\">$185.3 million<\/span> following Solar Flow-Through Funds Ltd. Acquisition, as compared to <span class=\"xn-money\">$39.2 million<\/span> at <span class=\"xn-chron\">June 30, 2024<\/span>.<\/li>\n<li>Revenues were <span class=\"xn-money\">$20.1 million<\/span> compared to <span class=\"xn-money\">$26.3 million<\/span> in 2024.<\/li>\n<li>Cash flow from operating activities was <span class=\"xn-money\">$1.3 million<\/span> compared to <span class=\"xn-money\">$26.7 million<\/span> in 2024<\/li>\n<li>Net loss of <span class=\"xn-money\">$1.9 million<\/span>, or <span class=\"xn-money\">$0.06<\/span> per basic share, compared to net income of <span class=\"xn-money\">$2.0 million<\/span>, or <span class=\"xn-money\">$0.08<\/span> per basic share in in 2024.<\/li>\n<\/ul>\n<p>\n        <b><br \/>\n          <u>Corporate Second Quarter Highlights and Milestones:<\/u><br \/>\n        <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Announced a <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4363502-1&amp;h=4250870066&amp;u=https%3A%2F%2Fsolarbankcorp.com%2Fus49-5-million-transaction-with-qcells-announced-by%2F&amp;a=%2449.5+million+USD+transaction+with+Qcells\" target=\"_blank\" rel=\"nofollow\"><span class=\"xn-money\">$49.5 million USD<\/span> transaction with Qcells<\/a> for the sale and subsequent construction of four solar projects in <span class=\"xn-location\">New York State<\/span>. The projects will utilize high-quality Qcells modules that will be manufactured in the <span class=\"xn-location\">USA<\/span>. Nearly <span class=\"xn-money\">$2.8 billion USD<\/span> is being invested by Qcells to boost U.S. domestic solar manufacturing and innovation to support and accelerate the U.S. clean energy transition.<\/li>\n<li>Announced <span class=\"xn-money\">$25.8 million<\/span> Royal Bank of Canada Project Finance facility to be used to develop and construct two battery energy storage system (&#8220;BESS&#8221;) projects acquired as part of the Solar Flow-Through Funds Ltd.<\/li>\n<li>Continued to progress the development of approximately 145 MW that are expected to reach notice to proceed within the next 12 months.<\/li>\n<\/ul>\n<p>Dr. <span class=\"xn-person\">Richard Lu<\/span>, President and CEO of SolarBank commented: &#8220;Seasonal and political factors led to lower revenues; however, this was offset by significant increases in the gross profit as a result of favorable sales mix that we experienced, as anticipated, with the growth in our independent power producer assets and corresponding revenues. This is stable recurring revenue that is under long-term contracts, and we will continue to grow this business as evidenced by the <span class=\"xn-money\">$25.8 million<\/span> Royal Bank of <span class=\"xn-location\">Canada<\/span> debt facility that supports the construction of the BESS projects that we own. Revenue from EPC contracts was lower as we worked to find a partner for some of our most advanced projects. We succeeded in securing the <span class=\"xn-money\">$49.5 Million USD<\/span> transaction with Qcells on the last day of the quarter and these revenues will now be recognized over the coming quarters.&#8221;<\/p>\n<p>\n        <i><br \/>\n          <sup>(1)<\/sup><br \/>\n        <\/i><br \/>\n        <i>EBITDA and Adjusted EBITDA are non-IFRS financial measures with no standardized meaning under IFRS, and therefore they may not be comparable to similar measures presented by other issuers. For further information and detailed reconciliations of Non-IFRS financial measures to the most directly comparable IFRS measures see &#8220;Non-IFRS Financial Measures&#8221; in this News Release.<\/i>\n      <\/p>\n<p>\n        <b><br \/>\n          <u>Summary of Year-to-Date Results (All amounts are for the six-months period)<\/u><br \/>\n        <\/b>\n      <\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prnpr2 prnpl2 prnvab prncbts prnbrbrs prnbbbs prnbsbls\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Six Months Ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31, 2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>December 31, 2023<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Statement of Income and Comprehensive Income<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Total Revenue<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 20,101,585<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 26,325,066<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Cash flow from operating activities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 1,305,247<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 26,655,009<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Adjusted EBITDA (a non-IFRS measure)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 2,387,655<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0334,639<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net (loss) income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (1,857,441)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 2,023,461<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Basic (loss) earnings per share<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(0.06)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a00.08<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Diluted (loss) earnings per share<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0(0.06)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a00.05<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>The Company ended the second quarter of fiscal 2025 with <span class=\"xn-money\">$33.6 million<\/span> in current assets, as compared to <span class=\"xn-money\">$17.6 million<\/span> in current assets as of year-end <span class=\"xn-chron\">June 30, 2024<\/span>. The increase is principally the result of the closing of the acquisition of\u00a0SFF.<\/p>\n<p>Current liabilities increased from <span class=\"xn-money\">$13.4 million<\/span> as of the year ended <span class=\"xn-chron\">June 30, 2024<\/span>, to <span class=\"xn-money\">$34.7 million<\/span> in the current quarter, mainly due to an increase in trade and other payables and the short term debt. \u00a0<\/p>\n<p>For complete details please refer to the unaudited condensed interim consolidated financial statements and associated Management Discussion and Analysis for the six months ended <span class=\"xn-chron\">December 31, 2024<\/span>, available on SEDAR+ (<a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4363502-1&amp;h=2752071301&amp;u=https%3A%2F%2Fwww.sedarplus.ca%2Flandingpage%2F&amp;a=https%3A%2F%2Fwww.sedarplus.ca\" target=\"_blank\" rel=\"nofollow\">https:\/\/www.sedarplus.ca<\/a>).<\/p>\n<p>The Company notes that the execution of the Company&#8217;s growth strategy depends upon the continued availability of third-party financing arrangements for the Company and its customers and the Company&#8217;s future success depends partly on its ability to expand the pipeline of its energy business in several key markets. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar and battery storage power, which could cause demand for the Company&#8217;s services to decline. Further the forecasted MW capacity of a solar project may not be reached. Please refer to &#8220;Forward-Looking Statements&#8221; for additional discussion of the assumptions and risk factors associated with the statements in this press release.<\/p>\n<p>\n        <b><br \/>\n          <u>Conference Call <span class=\"xn-chron\">February 18, 2025<\/span>, at <span class=\"xn-chron\">4:30 PM ET<\/span><\/u><br \/>\n        <\/b>\n      <\/p>\n<p>The Company will review financial results and provide a business update.\u00a0 Interested parties can register for the webinar by clicking <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4363502-1&amp;h=2690377662&amp;u=https%3A%2F%2Fevents.teams.microsoft.com%2Fevent%2F76089cb8-6aa9-4c0c-91ad-4c410064ddde%40f90ea049-87a1-4082-95af-7e4e24c02cb4&amp;a=here\" target=\"_blank\" rel=\"nofollow\">here<\/a>.<\/p>\n<p>After registering, you will receive a confirmation email containing information about joining the webinar.<\/p>\n<p>\n        <b><br \/>\n          <u>Non-IFRS Financial Measures<\/u><br \/>\n        <\/b>\n      <\/p>\n<p>The Company has disclosed certain non-IFRS financial measures and ratios in this press, as discussed below. These non-IFRS financial measures and non-IFRS ratios are widely reported in the renewable energy industry as benchmarks for performance and are used by management to monitor and evaluate the Company&#8217;s operating performance and ability to generate cash. The Company believes that, in addition to financial measures and ratios prepared in accordance with\u00a0IFRS, certain investors use these non-IFRS financial measures and ratios to evaluate the Company&#8217;s performance. However, the measures do not have a standardized meaning under IFRS and may not be comparable to similar financial measures disclosed by other companies. Accordingly, non-IFRS financial measures and non-IFRS ratios should not be considered in isolation or as a substitute for measures and ratios of the Company&#8217;s performance prepared in accordance with IFRS.<\/p>\n<p>Non-IFRS financial measures are defined in National Instrument 52-112 \u2013 Non-GAAP and Other Financial Measures Disclosure (&#8220;<b>NI 52-112<\/b>&#8220;) as a financial measure disclosed that (a) depicts the historical or expected future financial performance, financial position or cash flow of an entity, (b) with respect to its composition, excludes an amount that is included in, or includes an amount that is excluded from, the composition of the most directly comparable financial measure disclosed in the primary financial statements of the entity, (c) is not disclosed in the financial statements of the entity, and (d) is not a ration, fraction, percentage or similar representation.<\/p>\n<p>A non-IFRS ratio is defined by NI 52-112 as a financial measure disclosed that (a) is in the form of a ratio, fraction, percentage, or similar representation, (b) has a non-IFRS financial measure as one or more of its components, and (c) is not disclosed in the financial statements.<\/p>\n<p>\n        <b><br \/>\n          <i>Adjusted EBITDA<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Adjusted EBITDA is a non-IFRS financial measure, which excludes the following from net earnings:<\/p>\n<ul type=\"disc\">\n<li>Income tax expense;<\/li>\n<li>Finance costs;<\/li>\n<li>Amortization and depreciation.<\/li>\n<li>Non-operating income or expenses;<\/li>\n<li>Non-recurring gains or losses;<\/li>\n<li>Impairment charges or reversals;<\/li>\n<li>Listing fees or costs related to equity offerings;<\/li>\n<li>Foreign exchange gains or losses<\/li>\n<\/ul>\n<p>Management believes Adjusted EBITDA is a valuable indicator of the Company&#8217;s ability to generate liquidity by producing operating cash flow to fund working capital needs, service debt obligations, and fund capital expenditures. Management uses Adjusted EBITDA for this purpose. EBITDA is also frequently used by investors and analysts for valuation purposes whereby Adjusted EBITDA is multiplied by a factor or &#8220;EBITDA multiple&#8221; based on an observed or inferred relationship between Adjusted EBITDA and market values to determine the approximate total enterprise value of a Company. Management also believes that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results because it is consistent with the indicators management uses internally to measure the Company&#8217;s performance and is an indicator of the performance of the Company&#8217;s renewable energy project development and operations.<\/p>\n<p>Adjusted EBITDA is\u00a0intended to provide additional information to investors and analysts. It does not have any standardized definition under IFRS and should not be considered in isolation or as a substitute for measures of operating performance prepared in accordance with IFRS. Adjusted EBITDA excludes the impact of cash costs of financing activities and taxes, and the effects of changes in operating working capital balances, and therefore is not necessarily indicative of operating profit or cash flow from operations as determined by IFRS. Other companies may calculate Adjusted EBITDA differently.<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen9\" colspan=\"2\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Six months ended December 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2024<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2023<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Net income (loss) per financial statements<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,857,441)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,023,461<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Add:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Depreciation expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">42,066<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">29,325<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Depreciation included in COGS<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3,008,283<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">41,973<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Interest (income)\/expense, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,279,358<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(8,443)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Income tax and Deferred income tax expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">641,065<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(15,987)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Fair value change (gain)\/loss<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(644,688)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Other (income)\/expense<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(80,988)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1,735,690)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Adjusted EBITDA<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2,387,655<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">334,639<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>About SolarBank Corporation<\/b>\n      <\/p>\n<p>SolarBank Corporation\u00a0is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in <span class=\"xn-location\">Canada<\/span> and the <span class=\"xn-location\">USA<\/span>. 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 <span class=\"xn-location\">North America<\/span> 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. To learn more about SolarBank, please visit <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=4363502-1&amp;h=2720400474&amp;u=http%3A%2F%2Fwww.solarbankcorp.com%2F&amp;a=www.solarbankcorp.com\" target=\"_blank\" rel=\"nofollow\">www.solarbankcorp.com<\/a>.<\/p>\n<p>\n        <b>FORWARD-LOOKING STATEMENTS<\/b>\n      <\/p>\n<p>This press release contains forward-looking statements and forward-looking information \u200ewithin the meaning of Canadian securities legislation (collectively, &#8220;forward-looking \u200estatements&#8221;) that relate to the Company&#8217;s current expectations and views of future events. \u200eAny statements that express, or involve discussions as to, expectations, beliefs, plans, \u200eobjectives, assumptions or future events or performance (often, but not always, through the \u200euse of words or phrases such as &#8220;will likely result&#8221;, &#8220;are expected to&#8221;, &#8220;expects&#8221;, &#8220;will \u200econtinue&#8221;, &#8220;is anticipated&#8221;, &#8220;anticipates&#8221;, &#8220;believes&#8221;, &#8220;estimated&#8221;, &#8220;intends&#8221;, &#8220;plans&#8221;, &#8220;forecast&#8221;, \u200e\u200e&#8221;projection&#8221;, &#8220;strategy&#8221;, &#8220;objective&#8221; and &#8220;outlook&#8221;) are not historical facts and may be \u200eforward-looking statements and may involve estimates, assumptions and uncertainties \u200ewhich could cause actual results or outcomes to differ materially from those expressed in \u200esuch forward-looking statements. In particular and without limitation, this press release \u200econtains forward-looking statements pertaining to the Company&#8217;s expectations regarding its industry trends and overall market growth; the Company&#8217;s growth strategies; the expected energy production from the solar power projects mentioned in this press release; the megawatt capacity and type of future solar projects; continued growth of the Company; and the size of the Company&#8217;s development pipeline. No assurance \u200ecan be given that these expectations will prove to be correct and such forward-looking \u200estatements included in this press release should not be unduly relied upon. These \u200estatements speak only as of the date of this press release.\u200e<\/p>\n<p>Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties. In making the forward looking statements included in this press release, the Company has made various material assumptions, including but not limited to: obtaining the necessary regulatory approvals; that regulatory requirements will be maintained; general business and economic conditions; the Company&#8217;s ability to successfully execute its plans and intentions; the availability of financing on reasonable terms; the Company&#8217;s ability to attract and retain skilled staff; market competition; the products and services offered by the Company&#8217;s competitors; that the Company&#8217;s current good relationships with its service providers and other third parties will be maintained; and government subsidies and funding for renewable energy will continue as currently contemplated. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and the Company cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking statements.<\/p>\n<p>Whether actual results, performance or achievements will conform to the Company&#8217;s expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including those listed under <i>&#8220;Forward-\u200eLooking Statements&#8221; and &#8220;Risk \u200eFactors&#8221; in the Company&#8217;s most recently completed Annual Information Form, <\/i>and other\u00a0public filings of the Company, which include: the Company may be adversely affected by volatile solar power market and industry conditions; the execution of the Company&#8217;s growth strategy depends upon the continued availability of third-party financing arrangements; the Company&#8217;s future success depends partly on its ability to expand the pipeline of its energy business in several key markets; governments may revise, reduce or eliminate incentives and policy support schemes for solar and battery storage power; general global economic conditions may have an adverse impact on our operating performance and results of operations; the Company&#8217;s project development and construction activities may not be successful; developing and operating solar projects exposes the Company to various risks; the Company faces a number of risks involving Power Purchase Agreements (&#8220;PPAs&#8221;) and project-level financing arrangements; any changes to the laws, regulations and policies that the Company is subject to may present technical, regulatory and economic barriers to the purchase and use of solar power; the markets in which the Company competes are highly competitive and evolving quickly; an anti-circumvention investigation could adversely affect the Company by potentially raising the prices of key supplies for the construction of solar power projects; foreign exchange rate fluctuations; a change in the Company&#8217;s effective tax rate can have a significant adverse impact on its business; seasonal variations in demand linked to construction cycles and weather conditions may influence the Company&#8217;s results of operations; the Company may be unable to generate sufficient cash flows or have access to external financing; the Company may incur substantial additional indebtedness in the future; the Company is subject to risks from supply chain issues; risks related to inflation; unexpected warranty expenses that may not be adequately covered by the Company&#8217;s insurance policies; if the Company is unable to attract and retain key personnel, it may not be able to compete effectively in the renewable energy market; there are a limited number of purchasers of utility-scale quantities of electricity; compliance with environmental laws and regulations can be expensive; corporate responsibility may adversely impose additional costs; the future impact of a resurgence of COVID-19 on the Company is unknown at this time; the Company has limited insurance coverage; the Company will be reliant on information technology systems and may be subject to damaging cyberattacks; the Company may become subject to litigation; there is no guarantee on how the Company will use its available funds; the Company will continue to sell securities for cash to fund operations, capital expansion, mergers and acquisitions that will dilute the current shareholders; and future dilution as a result of financings. In addition, there are difficulties in forecasting the Company&#8217;s financial results and performance for future periods, particularly over longer periods, given changes in technology and the Company&#8217;s business strategy, evolving industry standards, intense competition and government regulation that characterize the industries in which the Company operates.<\/p>\n<p>The Company undertakes no obligation to update or revise any \u200eforward-looking statements, whether as a result of new information, future events or \u200eotherwise, except as may be required by law. New factors emerge from time to time, and it \u200eis not possible for the Company to predict all of them, or assess the impact of each such \u200efactor or the extent to which any factor, or combination of factors, may cause results to \u200ediffer materially from those contained in any forward-looking statement. Any forward-\u200elooking statements contained in this press release are expressly qualified in their entirety by \u200ethis cautionary statement.\u200e<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=TO20259&amp;sd=2025-02-18\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/solarbank-announces-second-quarter-results-302377446.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/solarbank-announces-second-quarter-results-302377446.html<\/a><\/p>\n<p>SOURCE  SolarBank Corporation<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=TO20259&amp;Transmission_Id=202502180700PR_NEWS_USPR_____TO20259&amp;DateId=20250218\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Gross margins improved to 29.2% led by a growing independent power producer (&#8220;IPP&#8221;) revenue base. This news release constitutes a &#8220;designated news release&#8221; for the purposes of the Company&#8217;s prospectus supplement dated May 23, 2024, to its short form base shelf prospectus dated May 2, 2023. TORONTO , Feb. 18, 2025 \/PRNewswire\/ &#8211;SolarBank Corporation (Nasdaq: SUUN) (Cboe CA: SUNN) (FSE: GY2) (&#8220;SolarBank&#8221; or the &#8220;Company&#8221;) reports its fiscal second quarter and fiscal 2025 interim financial results. All financial figures are in Canadian dollars and in accordance with International Financial Reporting Standards (IFRS) as presented in the interim consolidated financial statements. Fiscal Year-to-Date Financial Highlights (All amounts are for the six-months period ended December 31, 2024) IPP revenue increased &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-announces-second-quarter-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SolarBank Announces Second Quarter Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-813946","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SolarBank Announces Second Quarter Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-announces-second-quarter-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SolarBank Announces Second Quarter Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire Gross margins improved to 29.2% led by a growing independent power producer (&#8220;IPP&#8221;) revenue base. This news release constitutes a &#8220;designated news release&#8221; for the purposes of the Company&#8217;s prospectus supplement dated May 23, 2024, to its short form base shelf prospectus dated May 2, 2023. TORONTO , Feb. 18, 2025 \/PRNewswire\/ &#8211;SolarBank Corporation (Nasdaq: SUUN) (Cboe CA: SUNN) (FSE: GY2) (&#8220;SolarBank&#8221; or the &#8220;Company&#8221;) reports its fiscal second quarter and fiscal 2025 interim financial results. All financial figures are in Canadian dollars and in accordance with International Financial Reporting Standards (IFRS) as presented in the interim consolidated financial statements. Fiscal Year-to-Date Financial Highlights (All amounts are for the six-months period ended December 31, 2024) IPP revenue increased &hellip; Continue reading &quot;SolarBank Announces Second Quarter Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-announces-second-quarter-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-18T12:24:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/2620968\/SolarBank_Corporation_SolarBank_Announces_Second_Quarter_Results.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"13 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/solarbank-announces-second-quarter-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/solarbank-announces-second-quarter-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"SolarBank Announces Second Quarter Results\",\"datePublished\":\"2025-02-18T12:24:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/solarbank-announces-second-quarter-results\\\/\"},\"wordCount\":2601,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/solarbank-announces-second-quarter-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/2620968\\\/SolarBank_Corporation_SolarBank_Announces_Second_Quarter_Results.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/solarbank-announces-second-quarter-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/solarbank-announces-second-quarter-results\\\/\",\"name\":\"SolarBank Announces Second Quarter Results - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-announces-second-quarter-results\/","og_locale":"en_US","og_type":"article","og_title":"SolarBank Announces Second Quarter Results - Market Newsdesk","og_description":"PR Newswire Gross margins improved to 29.2% led by a growing independent power producer (&#8220;IPP&#8221;) revenue base. This news release constitutes a &#8220;designated news release&#8221; for the purposes of the Company&#8217;s prospectus supplement dated May 23, 2024, to its short form base shelf prospectus dated May 2, 2023. TORONTO , Feb. 18, 2025 \/PRNewswire\/ &#8211;SolarBank Corporation (Nasdaq: SUUN) (Cboe CA: SUNN) (FSE: GY2) (&#8220;SolarBank&#8221; or the &#8220;Company&#8221;) reports its fiscal second quarter and fiscal 2025 interim financial results. All financial figures are in Canadian dollars and in accordance with International Financial Reporting Standards (IFRS) as presented in the interim consolidated financial statements. Fiscal Year-to-Date Financial Highlights (All amounts are for the six-months period ended December 31, 2024) IPP revenue increased &hellip; Continue reading \"SolarBank Announces Second Quarter Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-announces-second-quarter-results\/","og_site_name":"Market Newsdesk","article_published_time":"2025-02-18T12:24:08+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/2620968\/SolarBank_Corporation_SolarBank_Announces_Second_Quarter_Results.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"13 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-announces-second-quarter-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-announces-second-quarter-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"SolarBank Announces Second Quarter Results","datePublished":"2025-02-18T12:24:08+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-announces-second-quarter-results\/"},"wordCount":2601,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-announces-second-quarter-results\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/2620968\/SolarBank_Corporation_SolarBank_Announces_Second_Quarter_Results.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-announces-second-quarter-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/solarbank-announces-second-quarter-results\/","name":"SolarBank Announces Second Quarter Results - 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