SolarBank Provides Update on 5.4 MW Boyle Rd Project in New York
SolarBank (NASDAQ: SUUN) has announced progress on its 5.4 MW DC ground-mount solar power project in upstate New York, known as the Boyle Rd project. The project has reached a key milestone by receiving positive interconnection results through a completed Coordinated Electric System Interconnection Review (CESIR).
The project will operate as a community solar initiative, expected to power approximately 630 homes. It qualifies for incentives under the NYSERDA NY-Sun Program. Following permitting and financing, construction will commence. The community solar model allows residents to subscribe and earn monthly electric bill credits without installing panels on their homes.
SolarBank has partnered with Solar Simplified to handle customer-facing activities, including acquisition, enrollment, and management, ensuring full project subscription and maximized revenue from day one.
SolarBank (NASDAQ: SUUN) ha annunciato progressi nel suo progetto solare da 5,4 MW DC su terreno nello stato di New York, noto come progetto Boyle Rd. Il progetto ha raggiunto una tappa fondamentale ricevendo risultati positivi di interconnessione attraverso una Revisione Coordinata del Sistema Elettrico di Interconnessione (CESIR) completata.
Il progetto funzionerà come un
SolarBank ha collaborato con Solar Simplified per gestire le attività a contatto con i clienti, inclusi acquisizione, iscrizione e gestione, garantendo una piena sottoscrizione del progetto e massimizzando i ricavi fin dal primo giorno.
SolarBank (NASDAQ: SUUN) ha anunciado avances en su proyecto solar de 5.4 MW DC en terreno en el norte del estado de Nueva York, conocido como el proyecto Boyle Rd. El proyecto ha alcanzado un hito clave al recibir resultados positivos de interconexión a través de una Revisión Coordinada del Sistema Eléctrico de Interconexión (CESIR) completada.
El proyecto funcionará como una iniciativa solar comunitaria, que se espera que abastezca aproximadamente 630 hogares. Califica para incentivos bajo el Programa NY-Sun de NYSERDA. Tras la obtención de permisos y financiamiento, comenzará la construcción. El modelo solar comunitario permite a los residentes suscribirse y ganar créditos mensuales en su factura eléctrica sin necesidad de instalar paneles en sus hogares.
SolarBank se ha asociado con Solar Simplified para manejar las actividades de atención al cliente, incluyendo adquisición, inscripción y gestión, asegurando una plena suscripción al proyecto y maximizando los ingresos desde el primer día.
SolarBank (NASDAQ: SUUN)는 뉴욕 주 북부에 있는 5.4 MW DC 지상 태양광 발전 프로젝트인 Boyle Rd 프로젝트의 진행 상황을 발표했습니다. 이 프로젝트는 완료된 전력 시스템 상호 연결 검토(CESIR)를 통해 긍정적인 상호 연결 결과를 받아 중요한 이정표에 도달했습니다.
이 프로젝트는 약 630 가구에 전력을 공급할 것으로 예상되는 커뮤니티 태양광 이니셔티브로 운영될 것입니다. NYSERDA NY-Sun 프로그램의 인센티브를 받을 자격이 있습니다. 허가와 자금 조달이 완료되면 건설이 시작될 것입니다. 커뮤니티 태양광 모델은 주민들이 가입하고 자택에 패널을 설치하지 않고도 매월 전기 요금 크레딧을 받을 수 있게 합니다.
SolarBank는 고객과의 활동을 처리하기 위해 Solar Simplified와 협력하여, 고객 확보, 등록 및 관리 등 모든 프로젝트 구독을 보장하고 첫 날부터 수익을 극대화합니다.
SolarBank (NASDAQ: SUUN) a annoncé des progrès dans son projet solaire de 5,4 MW DC au sol dans le nord de l'État de New York, connu sous le nom de projet Boyle Rd. Le projet a atteint une étape clé en recevant des résultats d'interconnexion positifs grâce à une Revue d'Interconnexion du Système Électrique Coordonnée (CESIR) complétée.
Le projet fonctionnera comme une initiative solaire communautaire, qui devrait alimenter environ 630 foyers. Il est éligible à des incitations dans le cadre du programme NY-Sun de la NYSERDA. Après l'obtention des permis et du financement, la construction commencera. Le modèle solaire communautaire permet aux résidents de s'abonner et de gagner des crédits mensuels sur leur facture d'électricité sans avoir à installer de panneaux sur leur maison.
SolarBank s'est associé à Solar Simplified pour gérer les activités en contact avec les clients, y compris l'acquisition, l'inscription et la gestion, garantissant une souscription complète au projet et maximisant les revenus dès le premier jour.
SolarBank (NASDAQ: SUUN) hat Fortschritte bei seinem 5,4 MW DC Freiflächen-Solarprojekt im Norden von New York bekannt gegeben, das als Boyle Rd-Projekt bekannt ist. Das Projekt hat einen wichtigen Meilenstein erreicht, indem es positive Ergebnisse der Netzanschlussprüfung (CESIR) erhalten hat.
Das Projekt wird als gemeinschaftliches Solarprojekt betrieben, das voraussichtlich etwa 630 Haushalte mit Strom versorgen wird. Es qualifiziert sich für Anreize im Rahmen des NYSERDA NY-Sun-Programms. Nach Genehmigungen und Finanzierung wird der Bau beginnen. Das Modell des gemeinschaftlichen Solarprojekts ermöglicht es den Anwohnern, sich anzumelden und monatliche Gutschriften auf ihrer Stromrechnung zu erhalten, ohne Solarpanels auf ihren Häusern installieren zu müssen.
SolarBank hat sich mit Solar Simplified zusammengetan, um kundennahe Aktivitäten wie Akquisition, Anmeldung und Verwaltung zu übernehmen, um eine vollständige Projektunterzeichnung und maximierte Einnahmen ab dem ersten Tag sicherzustellen.
- Project achieved key development milestone with positive interconnection approval
- Eligible for NYSERDA NY-Sun Program incentives
- Partnership with Solar Simplified ensures full project subscription and maximized revenue from day one
- Project will serve 630 homes when completed
- Project still requires permits and financing before construction can begin
- Development subject to multiple risks including community solar contract approval
- Future project economics dependent on government incentives that may be reduced or eliminated
630 Homes Expected to be Powered by this Community Solar Project
Following receipt of the necessary permits and financing, the Company intends to commence the construction of the Project. 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 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 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.
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SOURCE SolarBank Corporation
FAQ
What is the capacity and location of SolarBank's (SUUN) new solar project?
How many homes will the SUUN Boyle Rd community solar project power?
What major milestone has the SUUN Boyle Rd project achieved in March 2025?
What incentives will the SUUN Boyle Rd project be eligible for?
How does SolarBank's (SUUN) community solar subscription model work?
