Property, Plant and Equipment

12 Months Ended

Jun. 30, 2024

Disclosure of detailed information about property, plant and equipment [abstract]

Property, Plant and Equipment

6. Property, Plant and Equipment

	Computer equipment			Furniture and equipment			Vehicle		IPP facilities (1)		Total
Cost:
Balance, June 30, 2022	$	59,984			83,706			-		-	$	143,690
Additions/dispositions		(40,728	)		(33,453	)		-		937,194		863,013
Balance, June 30, 2023	$	19,256			50,253			-		937,194	$	1,006,703
Accumulated amortization:
Balance, June 30, 2022	$	49,973			68,603			-		-	$	118,576
Depreciation		4,728			2,655			-		-		7,383
Reversal		(40,825	)		(28,564	)		-		-		(69,389	)
Balance, June 30, 2023	$	13,876			42,694			-		-	$	56,570
Net Book Value- June 30, 2023	$	5,380			7,559			-		937,194	$	950,133

	Computer equipment		Furniture and equipment		Vehicle		IPP facilities			Total
Cost:
Balance, June 30, 2023	$	19,256		50,253		-		937,194		$	1,006,703
Additions		-		7,300		35,608		3,100,000			3,142,908
Reclass to tax equity asset(2)		-		-		-		(474,547	)		(474,547	)
Foreign currency impact		-		-		-		15,620			15,620
Balance, June 30, 2024	$	19,256		57,553		35,608		3,578,267		$	3,690,684
Accumulated amortization:
Balance, June 30, 2023	$	13,876		42,694		-		-		$	56,570
Depreciation(3)		2,316		2,136		4,216		170,140			178,808
Foreign currency impact		-		-		-		383			383
Balance, June 30, 2024	$	16,192		44,830		4,216		170,523		$	235,761
Net Book Value- June 30, 2024	$	3,064		12,723		31,392		3,407,744		$	3,454,923

(1)	Addition of IPP facilities for the fiscal year ended June 30, 2024 and 2023 relate to business acquisitions of OFIT GM and OFTI RT (Note 17). The IPP facilities held by OFIT GM and OFIT RT totaling $3,100,000 are part collateral for long-term loan guarantee (Note 15 (3)).
(2)	Tax equity asset of $474,547 acquired from the acquisition of Solar Alliance DevCo LLC (Note 17) was included in IPP facilities for the year ended June 30, 2023. This asset is reclassified and disclosed separately in the consolidated statements of financial position for the year ended June 30, 2024.
(3)	Total depreciation expense of $170,140 for IPP facilities are recorded in cost of goods sold for the year ended June 30, 2024(2023- $Nil). The remaining $8,668 depreciation expense is recorded under operating expenses (2023- $7,383).

SOLARBANK CORPORATION

Notes to Consolidate Financial Statements

Years ended June 30, 2024 and 2023

(Expressed in Canadian Dollars)