
Solaris Energy Infrastructure Inc. has reported $126 million in revenue for the first quarter of 2025, up 31 percent from the fourth quarter of 2024. Compared to the corresponding quarter in 2024, revenue was 86 percent higher.
In its quarterly report, Solaris said its net income reached $12.96 million, below the $14 million reported for Q4 2024 but well above the $7.3 million posted for the corresponding quarter of 2024.
“I am excited about the momentum we are seeing across the power sector and believe that our offerings will play a significant and value-added role to this broad-based demand growth. Our contracted fleet expansion provides visibility to continue growing the company’s earnings, which will help us drive total shareholder value while maintaining a balanced and attractive financial profile”, Bill Zartler, Solaris Chairman and Chief Executive Officer, said.
In the past quarter, Solaris formed a joint venture named Stateline Power LLC. The joint venture has signed a term sheet and is in the process of finalizing the definitive documentation for up to $550 million, structured as a senior secured term loan facility anticipated to cover most of its capital, Solaris said.
Due to the expansion of the commercial contract to back the joint venture, Solaris said its power generation fleet has a restricted amount of available capacity. In the first quarter, Solaris obtained around 330 MW of new generation capacity, with anticipated deliveries starting in the latter half of 2026. Solaris is engaged in talks with several customers to utilize this available capacity, it said.
Solaris’ total operated capacity is expected to be approximately 1,700 MW (approximately 1,250 MW owned, net of the JV) by the first half of 2027, it said.
“We are also excited to solidify our partnership with an industry leader and fast mover in the artificial intelligence computing space to provide power for their newest data center campus. The power that will be provided by our joint venture was increased by approximately 80 percent to 900 MW for an extended tenor of seven years”, Zartler said. “We believe this joint venture demonstrates Solaris’ value as a partner and in its ability to deliver reliable prime power while also providing redundancy and complementary backup to grid power. Additionally, we have secured meaningful new generation capacity to meet the continued demand we see for power, whether it is co-located, off-grid, or back up”.
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