10 Best Performing Utilities Stocks So Far in 2025

2) SolarBank Corporation (NASDAQ:SUUN)

% Gain on a YTD Basis: 80.6%

Number of Hedge Fund Holders: 1

SolarBank Corporation (NASDAQ:SUUN) operates as an independent renewable and clean energy project developer, power producer, and asset operator in Canada and the US.  The company announced its fiscal Q2 and fiscal 2025 interim financial results. The seasonal and political factors impacted revenues, however, this was offset by significant increases in the gross profit due to the favorable sales mix that it experienced, as expected, with the growth in SolarBank Corporation (NASDAQ:SUUN)’s independent power producer assets and corresponding revenues.

This happens to be a stable recurring revenue that is under long-term contracts, and the company plans to continue to grow this business as evidenced by the C$25.8 million Royal Bank of Canada debt facility supporting the construction of the BESS projects. SolarBank Corporation (NASDAQ:SUUN)  has announced a $49.5 million transaction with Qcells for the sale and subsequent construction of 4 solar projects in New York State. The projects will use high-quality Qcells modules that will be manufactured in the USA. Approximately $2.8 billion is being invested by Qcells to bolster the US domestic solar manufacturing and innovation to support and accelerate the US clean energy transition.

Utilities have been integrating solar energy into their generation mix in a bid to meet clean energy mandates and carbon neutrality targets. SolarBank Corporation (NASDAQ:SUUN) is expected to benefit from new utility-scale solar farm contracts.