NEWS
$45 Million Valued All Stock Acquisition of Solar Flow-Through Funds Ltd. Closes
SolarBank (SUUN) has completed the $45 million acquisition of Solar Flow-Through Funds (SFF), adding over 70 operating solar sites in Ontario to its portfolio. This all-stock transaction involved issuing up to 5,859,561 SolarBank shares. SFF's revenue was $9.2 million in 2023 and $9.4 million in 2022. The combined entities now have a 50.76 MW capacity, with 28.8 MW from SFF's sites, 14.97 MW from battery projects, and ongoing developments in Ontario. The deal includes contingent value rights tied to the final valuation of SFF's battery energy storage portfolio. The acquisition strategy supports SolarBank's expansion in renewable energy assets and aims to enhance long-term shareholder value.
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