7.2 MW Hoadley Hill Rd Solar Project in Development by SolarBank in New York
SolarBank (NASDAQ: SUUN) has announced plans to develop a 7.2 MW DC ground-mount solar power project called Hoadley Hill Rd in upstate New York. The project, expected to power approximately 850 homes, has secured a site lease and is awaiting interconnection approval.
The project will operate as a community solar initiative, feeding clean energy into the local power grid. Subscribers will earn monthly electric bill credits from their portion of generated solar power, without requiring personal panel installation. The project is expected to qualify for NYSERDA NY-Sun Program incentives.
SolarBank has partnered with Solar Simplified to manage customer-facing activities, including acquisition, enrollment, and management, ensuring full project subscription and maximized revenue from day one. This development adds to SolarBank's expanding pipeline, which exceeds one gigawatt.
SolarBank (NASDAQ: SUUN) ha annunciato piani per sviluppare un progetto solare da 7,2 MW DC a terra chiamato Hoadley Hill Rd nello stato di New York. Il progetto, che si prevede alimenterà circa 850 abitazioni, ha ottenuto un contratto di locazione del sito ed è in attesa di approvazione per l'interconnessione.
Il progetto funzionerà come un
SolarBank ha collaborato con Solar Simplified per gestire le attività rivolte ai clienti, inclusi acquisizione, iscrizione e gestione, garantendo una piena sottoscrizione del progetto e massimizzando i ricavi fin dal primo giorno. Questo sviluppo si aggiunge al crescente portafoglio di SolarBank, che supera un gigawatt.
SolarBank (NASDAQ: SUUN) ha anunciado planes para desarrollar un proyecto solar de 7.2 MW DC montado en tierra llamado Hoadley Hill Rd en el estado de Nueva York. Se espera que el proyecto alimente aproximadamente 850 hogares, ha asegurado un contrato de arrendamiento del sitio y está a la espera de la aprobación de interconexión.
El proyecto funcionará como una iniciativa solar comunitaria, alimentando energía limpia a la red eléctrica local. Los suscriptores ganarán créditos mensuales en su factura eléctrica de su parte de la energía solar generada, sin necesidad de instalar paneles personales. Se espera que el proyecto califique para los incentivos del programa NYSERDA NY-Sun.
SolarBank se ha asociado con Solar Simplified para gestionar las actividades orientadas al cliente, incluyendo adquisición, inscripción y gestión, asegurando una plena suscripción al proyecto y maximizando los ingresos desde el primer día. Este desarrollo se suma a la creciente cartera de SolarBank, que supera un gigavatio.
SolarBank (NASDAQ: SUUN)은 뉴욕주에 위치한 7.2 MW DC 지상 태양광 프로젝트인 Hoadley Hill Rd를 개발할 계획을 발표했습니다. 이 프로젝트는 약 850 가구에 전력을 공급할 것으로 예상되며, 부지 임대 계약을 체결하고 상호 연결 승인을 기다리고 있습니다.
이 프로젝트는 지역 사회 태양광 이니셔티브로 운영되어 지역 전력망에 청정 에너지를 공급합니다. 가입자는 개인 패널 설치 없이 생성된 태양광 전력의 일부로부터 월 전기 요금 크레딧을 받을 수 있습니다. 이 프로젝트는 NYSERDA NY-Sun 프로그램 인센티브 자격을 갖출 것으로 예상됩니다.
SolarBank는 고객과의 활동을 관리하기 위해 Solar Simplified와 협력하여, 고객 유치, 등록 및 관리 등을 포함하여 프로젝트의 완전한 구독과 첫날부터 최대 수익을 보장합니다. 이 개발은 1기가와트를 초과하는 SolarBank의 확장 중인 파이프라인에 추가됩니다.
SolarBank (NASDAQ: SUUN) a annoncé des projets de développement d'un projet solaire au sol de 7,2 MW DC appelé Hoadley Hill Rd dans l'État de New York. Le projet, qui devrait alimenter environ 850 foyers, a sécurisé un bail de site et attend l'approbation de l'interconnexion.
Le projet fonctionnera comme une initiative solaire communautaire, injectant de l'énergie propre dans le réseau électrique local. Les abonnés gagneront des crédits mensuels sur leur facture d'électricité provenant de leur part d'énergie solaire générée, sans nécessiter d'installation de panneaux personnels. Le projet devrait être éligible aux incitations du programme NYSERDA NY-Sun.
SolarBank s'est associé à Solar Simplified pour gérer les activités orientées vers les clients, y compris l'acquisition, l'inscription et la gestion, garantissant une souscription complète au projet et des revenus maximisés dès le premier jour. Ce développement s'ajoute au portefeuille croissant de SolarBank, qui dépasse un gigawatt.
SolarBank (NASDAQ: SUUN) hat Pläne angekündigt, ein 7,2 MW DC Freiflächen-Solarkraftwerk namens Hoadley Hill Rd im Bundesstaat New York zu entwickeln. Das Projekt, das voraussichtlich etwa 850 Haushalte mit Strom versorgen wird, hat einen Standortpachtvertrag gesichert und wartet auf die Genehmigung zur Netzanbindung.
Das Projekt wird als gemeinschaftliches Solarprojekt betrieben, das saubere Energie in das lokale Stromnetz einspeist. Abonnenten erhalten monatliche Gutschriften auf ihre Stromrechnung aus ihrem Anteil an der erzeugten Solarenergie, ohne dass eine persönliche Installation von Panels erforderlich ist. Es wird erwartet, dass das Projekt für Anreize des NYSERDA NY-Sun-Programms qualifiziert.
SolarBank hat sich mit Solar Simplified zusammengetan, um kundenorientierte Aktivitäten zu verwalten, einschließlich Akquisition, Anmeldung und Management, um eine vollständige Projektabonnierung und maximierte Einnahmen ab dem ersten Tag zu gewährleisten. Diese Entwicklung erweitert die wachsende Pipeline von SolarBank, die über ein Gigawatt hinausgeht.
- Project adds 7.2 MW DC to development pipeline exceeding 1 gigawatt
- Partnership with Solar Simplified ensures full project subscription and maximized revenue from day one
- Project qualifies for NYSERDA NY-Sun Program incentives
- Project still requires interconnection approval
- Development contingent on securing third-party financing
- Success depends on maintaining government incentives and policy support
Insights
SolarBank's announcement of the 7.2 MW Hoadley Hill Rd solar project represents incremental progress in the company's development pipeline rather than a transformative announcement. While securing the site lease is a positive step, the project faces several hurdles including pending interconnection approval, permitting, and securing financing.
The project's modest size (7.2 MW) should be viewed in context of SolarBank's overall development pipeline exceeding one gigawatt, making this particular announcement relatively small in scale - less than 1% of their total pipeline. Community solar projects typically generate predictable revenue streams once operational, with the partnership with Solar Simplified potentially enhancing subscription rates and revenue optimization.
The expected eligibility for NYSERDA NY-Sun Program incentives would improve the project economics, though specific financial benefits weren't quantified. The company's focus on community solar continues its established business strategy rather than signaling any strategic shift.
For investors, this announcement demonstrates business-as-usual development activity and pipeline growth, but with multiple contingencies highlighted in the risk factors and no timeline provided for expected completion or revenue generation. The project's ability to power approximately 850 homes provides a tangible metric for potential impact once operational, but near-term financial implications appear
850 Homes Expected to be Powered by this Community Solar Project
Assuming the Project's requested interconnection approval is received, the Company will continue to work to complete the permitting process and secure the necessary financing for the construction of the Project. The Project is expected to be eligible for incentives under the
Once completed, the Project will be operated as a community solar project. Community solar is a group of solar panels with access to the local electricity grid. Once the panels are turned on and generating electricity, clean energy from the site feeds into the local power grid. Depending on the size and number of panels the project has, dozens or even hundreds of renters and homeowners can save money from the electricity that is generated by the project. By subscribing to a project, a homeowner earns credits on their electric bill every month from their portion of the solar that's generated by the project, accessing the benefits of solar without installing panels on their home.
Solar Simplified handles all customer-facing activities for the Company's community solar projects, allowing it to focus on developing and expanding its renewable energy portfolio. Solar Simplified's expertise in acquisition, enrollment, and management ensures full project subscription and maximized revenue from day one. With a business model that aligns seamlessly with the Company's, this partnership drives sustainable growth, enabling the Company to accelerate development, bring more projects online each year, and create greater value for its business and the communities served by the Company.
There are several risks associated with the development of the Project. The development of any project is subject to receipt of interconnection approval, receipt of a community solar contract, required permits, the continued availability of third-party financing arrangements for the Company and the risks associated with the construction of a solar power project. In addition, governments may revise, reduce or eliminate incentives and policy support schemes for solar power, which could result in future projects no longer being economic. Please refer to "Forward-Looking Statements" for additional discussion of the assumptions and risk factors associated with the Project and statements made in this press release.
About SolarBank Corporation
SolarBank Corporation is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. In particular and without limitation, this news release contains forward-looking statements pertaining to the Company's expectations regarding its industry trends and overall market growth; the Company's growth strategies the expected energy production from the solar power project mentioned in this press release; the number of homes expected to be powered; the receipt of interconnection approval, permits and financing to be able to construct the Project; the receipt of incentives for the Project; and the size of the Company's development pipeline. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate, and are subject to risks and uncertainties. In making the forward looking statements included in this news release, the Company has made various material assumptions, including but not limited to: obtaining the necessary regulatory approvals; that regulatory requirements will be maintained; general business and economic conditions; the Company's ability to successfully execute its plans and intentions; the availability of financing on reasonable terms; the Company's ability to attract and retain skilled staff; market competition; the products and services offered by the Company's competitors; that the Company's current good relationships with its service providers and other third parties will be maintained; and government subsidies and funding for renewable energy will continue as currently contemplated. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and the Company cannot assure that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties and assumptions, investors should not place undue reliance on these forward-looking statements.
Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including those listed under "Forward-Looking Statements" and "Risk Factors" in the Company's most recently completed Annual Information Form, and other public filings of the Company, which include: the Company may be adversely affected by volatile solar power market and industry conditions; the execution of the Company's growth strategy depends upon the continued availability of third-party financing arrangements; the Company's future success depends partly on its ability to expand the pipeline of its energy business in several key markets; governments may revise, reduce or eliminate incentives and policy support schemes for solar and battery storage power; general global economic conditions may have an adverse impact on our operating performance and results of operations; the Company's project development and construction activities may not be successful; developing and operating solar projects exposes the Company to various risks; the Company faces a number of risks involving Power Purchase Agreements ("PPAs") and project-level financing arrangements; any changes to the laws, regulations and policies that the Company is subject to may present technical, regulatory and economic barriers to the purchase and use of solar power; the markets in which the Company competes are highly competitive and evolving quickly; an anti-circumvention investigation could adversely affect the Company by potentially raising the prices of key supplies for the construction of solar power projects; foreign exchange rate fluctuations; a change in the Company's effective tax rate can have a significant adverse impact on its business; seasonal variations in demand linked to construction cycles and weather conditions may influence the Company's results of operations; the Company may be unable to generate sufficient cash flows or have access to external financing; the Company may incur substantial additional indebtedness in the future; the Company is subject to risks from supply chain issues; risks related to inflation; unexpected warranty expenses that may not be adequately covered by the Company's insurance policies; if the Company is unable to attract and retain key personnel, it may not be able to compete effectively in the renewable energy market; there are a limited number of purchasers of utility-scale quantities of electricity; compliance with environmental laws and regulations can be expensive; corporate responsibility may adversely impose additional costs; the future impact of any resurgence of COVID-19 on the Company is unknown at this time; the Company has limited insurance coverage; the Company will be reliant on information technology systems and may be subject to damaging cyberattacks; the Company may become subject to litigation; there is no guarantee on how the Company will use its available funds; the Company will continue to sell securities for cash to fund operations, capital expansion, mergers and acquisitions that will dilute the current shareholders; and future dilution as a result of financings.
The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
View original content to download multimedia:https://www.prnewswire.com/news-releases/7-2-mw-hoadley-hill-rd-solar-project-in-development-by-solarbank-in-new-york-302412856.html
SOURCE SolarBank Corporation
FAQ
What is the capacity and location of SolarBank's (SUUN) new solar project?
How many homes will the SUUN Hoadley Hill Rd community solar project power?
What incentives is the SUUN Hoadley Hill Rd project eligible for?
How does Solar Simplified contribute to SUUN's Hoadley Hill Rd project?
What is the current status of SUUN's Hoadley Hill Rd solar project development?
