SolarBank Corp. Advances Hoadley Hill Solar Project in New York Following Regulatory Clearance
TL;DR
SolarBank's Hoadley Hill project, now CESIR-approved, offers investors a stake in a 7.2 MW solar array with promising returns under New York's VDER system.
The Hoadley Hill project's CESIR completion enables a 7.2 MW solar array to connect to New York's grid, powering 850 homes through community solar subscriptions.
SolarBank's Hoadley Hill initiative reduces carbon footprints by powering 850 homes with clean energy, supported by New York's VDER compensation for sustainable growth.
Discover how SolarBank's 7.2 MW Hoadley Hill solar project, now CESIR-approved, is lighting up New York with clean energy and community benefits.
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SolarBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) has announced a pivotal advancement for its 7.2-megawatt Hoadley Hill solar project in upstate New York, having successfully navigated the Coordinated Electric System Interconnection Review (CESIR) process. This achievement is a critical step towards the project's interconnection with the local grid, marking a significant milestone in its development.
The Hoadley Hill project, a ground-mount solar array, is designed to generate enough electricity to power approximately 850 homes. Structured as a community solar initiative, it will allow local residents to subscribe and receive credits on their utility bills, making renewable energy more accessible and affordable. Additionally, the project is set to benefit from New York's Value of Distributed Energy Resources (VDER) compensation system, with a projected year-one compensation rate of US$0.0971 per kilowatt-hour.
This development not only underscores SolarBank's commitment to advancing renewable and clean energy projects but also highlights the growing importance of community solar initiatives in promoting sustainable energy consumption. The completion of the CESIR process paves the way for the final stages of permitting and financing, bringing the project closer to realization. For more details on the project's progress, visit https://ibn.fm/9Oe8o.
The Hoadley Hill solar project represents a significant step forward in New York's renewable energy landscape, offering a model for how community solar initiatives can contribute to the state's clean energy goals. By enabling local participation and leveraging state-supported compensation mechanisms, SolarBank is setting a precedent for future projects in the region and beyond.
Curated from InvestorBrandNetwork (IBN)
