SolarBank Corporation (NASDAQ: SUUN) (Cboe CA: SUNN) (FSE: GY2) has achieved a significant milestone with its 7.2 MW Hoadley Hill Road ground-mount solar project in upstate New York, securing approval through the Coordinated Electric System Interconnection Review (CESIR). This regulatory clearance paves the way for a project that is expected to power approximately 850 homes, contributing to New York's ambitious target of 6 GW installed solar capacity by 2025.
The project benefits from New York's VDER compensation mechanism and is eligible for up to US$0.395/W DC in incentives through the NYSERDA NY-Sun program. As a community solar initiative, it offers local residents and businesses the opportunity to receive bill credits without the need for on-site installations, making renewable energy more accessible and affordable.
With a track record of over 100 MW of developed projects and a pipeline exceeding 1 GW, SolarBank is at the forefront of accelerating the transition to renewable energy. The company is now focusing on securing permits and financing to commence construction, further solidifying its role in supporting sustainable energy solutions.
This development is not only a testament to SolarBank's commitment to renewable energy but also highlights the growing importance of community solar projects in achieving environmental goals and providing economic benefits to local communities. For more details on the project, visit https://ibn.fm/I9HY9.
