Renewable Energy Project Development
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PowerBank Returns to Profitability with 106% Year-Over-Year Gross Profit Growth in Q1, 145% Adjusted EBITDA Increase
Prnewswire· 2025-11-17 12:30
Core Insights - PowerBank Corporation reported fiscal first quarter 2026 revenues of $19.15 million, a 27.8% increase from $15.06 million in the same period of FY2025, with a gross margin of 44.61% [1][4] - The company returned to profitability with a net income of $1.01 million, or $0.03 per basic share, compared to a net loss of $26.49 million, or $(0.87) per basic share, in the same quarter of FY2025 [1][4] - Adjusted EBITDA for the quarter was $4.84 million, significantly up from $1.97 million in the first quarter of FY2025 [4][7] Financial Performance - Gross profit reached $8.54 million, representing 44.62% of revenues, compared to $4.14 million, or 27.47% of revenues, in the same quarter of FY2025 [4] - Cash flow from operating activities was $2.31 million, down from $7.42 million in the same period last year [7] - Current assets decreased to $35.46 million from $41.32 million at the end of FY2025, primarily due to a reduction in prepaid expenses [7][8] Project Developments - The Geddes Solar Power Project in New York State is now fully operational, generating 3.79 MW of renewable energy, enough to power approximately 450 homes annually [4] - The company executed lease and power purchase agreements for a portfolio of solar projects totaling 20 MW DC with the New York State Division of Military and Naval Affairs [4] - PowerBank is advancing several solar projects, including a 6.9 MW DC ground-mount project and a 5.7 MW project in upstate New York, both in the permitting and financing stages [4][5] Strategic Focus - The company aims to rapidly advance its project development pipeline to retain eligibility for U.S. tax credits and drive revenue growth [6] - PowerBank's strategy includes developing, financing, and constructing solar projects, with a focus on maximizing returns through a diverse project portfolio [17] - The company has a potential development pipeline exceeding one gigawatt and has developed renewable energy projects with a combined capacity of over 100 megawatts [17]
Revolve Announces $2 Million Private Placement of Units
Newsfile· 2025-10-23 21:19
Core Viewpoint - Revolve Renewable Power Corp. has announced a brokered private placement to raise up to $2,000,130 through the issuance of up to 10,527,000 units at a price of $0.19 per unit, with each unit consisting of one common share and one warrant [1][4]. Group 1: Offering Details - The offering includes an option for the agent to sell an additional 1,579,000 units for proceeds of $300,010 [2]. - The units will be offered under exemptions from prospectus requirements in Canada and the U.S. [3]. - The net proceeds will be used for advancing late-stage projects and for working capital [4]. Group 2: Company Overview - Revolve was established in 2012 to meet the growing demand for renewable energy, focusing on utility-scale wind, solar, hydro, and battery storage projects across North America [6]. - The company has developed and sold over 1,550 MW of renewable energy projects to date [6]. - Revolve currently operates 12 MW of assets under long-term power purchase agreements and has a development portfolio exceeding 3,000 MW [7]. Group 3: Future Goals - The company aims to develop 5,000 MW of utility-scale projects in the U.S., Canada, and Mexico while expanding its revenue-generating distributed generation assets [8].
PowerBank Announces Fiscal Year End Results
Prnewswire· 2025-10-02 11:00
Core Insights - PowerBank Corporation reported a significant increase in revenues from independent power producer (IPP) production, with a 1,508% rise to $9.3 million in FY 2025 compared to $0.6 million in FY 2024, despite an overall revenue decrease of 29% to $41.5 million [5][6] - The company’s assets grew by 253%, driven by the expansion of its IPP portfolio [1] - The strategic focus of PowerBank is on growing its independent power producer asset base to create long-term recurring revenues [4] Financial Performance - Total revenues decreased by 29% to $41.5 million in FY 2025 from $58.4 million in FY 2024 [5][6] - Gross margin improved to 25.0% in FY 2025 from 20.0% in FY 2024 [5] - Adjusted EBITDA was reported at ($0.68) million in FY 2025 compared to $0.82 million in FY 2024 [5][6] - The net loss for FY 2025 was $31.1 million, or $0.97 per basic share, compared to a net loss of $3.6 million, or $0.13 per basic share in FY 2024 [5][6] Strategic Developments - PowerBank acquired Solar Flow-Through Funds Ltd. and its 29 MW of operating assets, marking a significant step in its growth strategy [4] - The company is working with CIM Group to secure up to US$100 million in non-dilutive equity capital for projects aimed at transforming its IPP asset base [4][10] - PowerBank is prioritizing development pathways in key U.S. states to qualify for full Investment Tax Credit (ITC) treatment under new regulations [4] Project Pipeline - The company has a development pipeline totaling approximately 1,806 MW, including 942 MW of solar projects and 864 MWh of Battery Energy Storage Systems (BESS) [9][10] - PowerBank is actively involved in community solar projects in Nova Scotia and is expanding its market share in this area [4][11] - The company has entered into agreements to sell and develop solar power projects in New York, valued at approximately US$49.5 million [11] Current Assets and Liabilities - As of June 30, 2025, PowerBank reported current assets of $41.3 million, up from $17.6 million the previous year [6][7] - Current liabilities increased significantly from $13.4 million to $43.1 million during the same period [7] Future Outlook - The company is exploring opportunities in the data center market, although no contracts have been finalized yet [12] - PowerBank is also developing BESS projects in Ontario, with ongoing construction and permitting challenges impacting timelines [12][13]
Green Rain Energy Holdings Inc. (OTC:GREH) Enters Definitive Energy Purchase and Sales Agreement with Allied Energy Corporation to Accelerate EV Charging Corridor Rollout
Accessnewswire· 2025-09-29 12:10
Core Viewpoint - Green Rain Energy Holdings Inc. has secured a stable natural gas supply through a Definitive Energy Purchase and Sales Agreement with Allied Energy Corporation, which will support its EV charging and renewable energy projects in New Mexico and Texas [1] Group 1: Agreement Details - The Definitive Energy Purchase and Sales Agreement (EPSA) ensures a reliable and cost-effective energy resource for Green Rain's initiatives [1] - The agreement is specifically aimed at supporting the rollout of EV charging systems along major highways in New Mexico and Texas [1] Group 2: Project Locations - The planned EV charging systems will be implemented along New Mexico Highways 10, 25, and 40 [1] - In Texas, the charging systems will be established along Highways 10, 40, 27, 20, 35, 37, and 69E [1]
ACME Solar secures ₹3,892 crore funding from SBI for Rajasthan project
BusinessLine· 2025-09-11 06:26
Group 1 - ACME Venus Urja Private Limited has secured long-term project funding of ₹3,892 crore from State Bank of India for a 400 MW Firm and Dispatchable Renewable Energy project with a 19-year repayment period [1][2] - This project represents SBI's largest financing commitment to ACME Solar and marks the bank's first investment in FDRE projects [2] - The project will be developed in Barmer, Rajasthan, under a contract with NHPC at a tariff of ₹4.64 per unit [2] Group 2 - The FDRE project will integrate solar power generation with Battery Energy Storage System technology to ensure consistent power supply [2] - ACME Solar Holdings operates 2,890 MW of capacity and has in-house Engineering, Procurement and Construction and Operations & Maintenance divisions [3] - The Barmer project enhances ACME's renewable energy asset portfolio in India, allowing for efficient project development and maintenance [4] Group 3 - ACME Solar Holdings Limited shares were trading at ₹307.55, up by ₹5.20 or 1.72 percent on the NSE [4]
European Energy A/S: H1 2025 report
Globenewswire· 2025-08-29 07:00
Financial Performance - European Energy reported a record-high H1 EBITDA of EUR 93 million and a last 12 months EBITDA of EUR 239 million, driven by strong project sales performance [5] - The outlook for 2025 is maintained at EUR 200-300 million, although the likelihood of achieving the lower half of this range has increased due to below-expectation power sales performance and potential delays in project sales [5] Power Sales and Project Divestments - Gross profit from power sales reached EUR 33 million, reflecting a 20% year-over-year increase, with 1,063 GWh produced, a 4% increase year-over-year [5] - The company successfully divested 8 projects totaling 1.2 GW across 3 transactions, generating EUR 99 million in gross profit, up from EUR 3 million the previous year, with an average realized gross profit margin of 24% [5] Financial Position and Construction Activity - As of H1 2025, the company had liquidity of EUR 235 million, consisting of EUR 138 million in cash and EUR 97 million in undrawn committed credit facilities, ensuring robust financial flexibility [5] - The highest construction activity ever was recorded, with 1.7 GW of projects under construction, including 1,380 MW of solar, 147 MW of wind parks, and 137 MW of PtX/BESS across 35 sites in eight European countries and Australia [5] Advancements in Projects - The Kassø e-methanol facility, the world's first large-scale commercial e-methanol facility, was officially inaugurated in May after producing its first e-methanol in March [5] - European Energy has made the Final Investment Decision to expand the Måde Green Hydrogen production site, with the addition of an electrolyser unit currently underway [5]
Planned Transition of Clenera's CEO
Globenewswire· 2025-07-07 17:15
Leadership Change - Clenera announced a leadership transition with Jared McKee becoming CEO on October 1, 2025, succeeding Adam Pishl, who will take on the role of Vice Chair of the Board [1][2][5] - Adam Pishl has successfully led Clenera through a transformative growth period, evolving it into an integrated development platform and independent power producer [2][5] Leadership Contributions - Jared McKee has nearly a decade of leadership experience at Clenera, contributing significantly to the company's development momentum and guiding its growth trajectory as Chief Commercial Officer [4][5] - Pishl emphasized the importance of team building and culture in Clenera's success, highlighting McKee as a strong leader committed to the company's mission [5][6] Company Overview - Clenera, a subsidiary of Enlight Renewable Energy, focuses on developing, financing, constructing, owning, and operating utility-scale solar farms and energy storage facilities across the United States [6] - Enlight Renewable Energy operates in multiple renewable segments, including solar, wind, and energy storage, and has a global presence in the U.S., Israel, and 10 European countries [7]
SolarBank Renews Base Shelf Prospectus
Prnewswire· 2025-05-08 23:00
Core Viewpoint - SolarBank Corporation has filed a final short form base shelf prospectus allowing it to offer up to C$200 million in various securities over a 25-month period, replacing its previous prospectus set to expire in June 2025 [1][2]. Company Overview - SolarBank Corporation is an independent renewable and clean energy project developer focusing on distributed and community solar projects in Canada and the USA [5]. - The company has developed renewable energy projects with a combined capacity of over 100 megawatts and has a potential development pipeline exceeding one gigawatt [5]. Financial Offering Details - The Shelf Prospectus allows the company to offer common shares, debt securities, warrants, subscription receipts, units, and share purchase contracts, with terms determined by market conditions at the time of offering [2][3]. - Net proceeds from any securities sold will be used for advancing business objectives, general corporate purposes, and potential future acquisitions [3]. Regulatory Filings - A corresponding shelf registration statement has been filed with the United States Securities and Exchange Commission, but it is not yet effective [1][4]. - The Shelf Prospectus and Registration Statement can be accessed through SEDAR+ and EDGAR respectively [4].