SolarBank Corporation Achieves Key Milestone for 7.2 MW New York Solar Project
TL;DR
SolarBank's 7.2 MW project in New York, cleared for interconnection, offers investors a stake in renewable energy with potential NYSERDA incentives up to US$0.395/W DC.
SolarBank's Hoadley Hill Road project, a 7.2 MW community solar initiative, will power 850 homes via New York's grid, leveraging VDER compensation and NY-Sun incentives.
SolarBank's community solar project in New York advances clean energy, reducing carbon footprints and supporting the state's goal of 6 GW solar capacity by 2025.
Discover how SolarBank's innovative 7.2 MW solar project in New York is set to power 850 homes, marking a leap towards sustainable community energy solutions.
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SolarBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) has announced a significant advancement in its 7.2 MW Hoadley Hill Road ground-mount solar project located in upstate New York. The project has successfully cleared the Coordinated Electric System Interconnection Review (CESIR), a crucial regulatory hurdle. This development paves the way for the project to contribute significantly to New York's renewable energy targets, aiming to power approximately 850 homes through the state's grid.
The initiative is supported by New York's Value of Distributed Energy Resources (VDER) compensation mechanism and stands to benefit from up to US$0.395/W DC in incentives through the NYSERDA NY-Sun program. As a community solar project, it offers a unique opportunity for residents and businesses to receive bill credits without the need for on-site solar installations, thereby broadening access to renewable energy benefits.
With a track record of over 100 MW of developed projects and a pipeline exceeding 1 GW, SolarBank is rapidly progressing through the permitting and financing phases to commence construction. This project is a testament to the company's commitment to advancing renewable energy solutions and aligns with New York's ambitious goal of installing 6 GW of solar capacity by 2025. The successful clearance of the CESIR process underscores the project's viability and its potential to make a meaningful impact on the state's energy landscape.
Curated from InvestorBrandNetwork (IBN)
