SolarBank Provides Update on 7.2 MW North Main Project in Wyoming County, New York
SolarBank (NASDAQ: SUUN) has announced progress on its 7.2 MW DC ground-mount North Main solar project in Wyoming County, New York. The project has completed its Coordinated Electric System Interconnection Review (CESIR) and is moving forward to the site permitting phase.
Upon completion, the facility will operate as a community solar project, expected to power approximately 850 homes. The project qualifies for incentives under NYSERDA's NY-Sun Program. Community members can subscribe to receive electric bill credits and access renewable energy at discounted rates without installing personal solar panels.
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. The development remains subject to obtaining necessary permits, community solar contracts, third-party financing, and construction-related risks.
SolarBank (NASDAQ: SUUN) ha annunciato progressi nel suo progetto solare North Main da 7,2 MW DC, situato nella Contea di Wyoming, New York. Il progetto ha completato la Revisione Coordinata dell'Interconnessione del Sistema Elettrico (CESIR) ed è pronto per passare alla fase di autorizzazione del sito.
Una volta completato, l'impianto funzionerà come un progetto solare comunitario, previsto per alimentare circa 850 abitazioni. Il progetto è idoneo per incentivi nell'ambito del Programma NY-Sun della NYSERDA. I membri della comunità possono iscriversi per ricevere crediti sulla bolletta elettrica e accedere a energia rinnovabile a tariffe scontate senza dover installare pannelli solari personali.
SolarBank ha collaborato con Solar Simplified per gestire le attività rivolte ai clienti, comprese l'acquisizione, l'iscrizione e la gestione, garantendo una piena sottoscrizione del progetto e massimizzando i ricavi fin dal primo giorno. Lo sviluppo rimane soggetto all'ottenimento dei permessi necessari, dei contratti di energia solare comunitaria, del finanziamento di terzi e ai rischi legati alla costruzione.
SolarBank (NASDAQ: SUUN) ha anunciado avances en su proyecto solar North Main de 7,2 MW DC, ubicado en el Condado de Wyoming, Nueva York. El proyecto ha completado su Revisión Coordinada de Interconexión del Sistema Eléctrico (CESIR) y avanza hacia la fase de permisos del sitio.
Una vez completado, la instalación funcionará como un proyecto solar comunitario, que se espera alimente aproximadamente 850 hogares. El proyecto califica para incentivos bajo el Programa NY-Sun de NYSERDA. Los miembros de la comunidad pueden suscribirse para recibir créditos en la factura eléctrica y acceder a energía renovable a tarifas con descuento sin necesidad de instalar paneles solares personales.
SolarBank se ha asociado con Solar Simplified para gestionar actividades orientadas al cliente, incluyendo adquisición, inscripción y gestión, asegurando una plena suscripción al proyecto y maximizando los ingresos desde el primer día. El desarrollo sigue sujeto a la obtención de los permisos necesarios, contratos de energía solar comunitaria, financiamiento de terceros y riesgos relacionados con la construcción.
SolarBank (NASDAQ: SUUN)은 뉴욕주 와이오밍 카운티에 위치한 7.2 MW DC 지상 설치형 North Main 태양광 프로젝트의 진전을 발표했습니다. 이 프로젝트는 전기 시스템 상호 연결 검토(CESIR)를 완료하고 사이트 허가 단계로 나아가고 있습니다.
완공 후, 이 시설은 약 850 가구에 전력을 공급할 것으로 예상되는 커뮤니티 태양광 프로젝트로 운영될 것입니다. 이 프로젝트는 NYSERDA의 NY-Sun 프로그램에 따른 인센티브 자격을 갖추고 있습니다. 커뮤니티 구성원들은 개인 태양광 패널을 설치하지 않고도 전기 요금 크레딧을 받고 할인된 요금으로 재생 에너지를 이용할 수 있도록 구독할 수 있습니다.
SolarBank는 고객과의 활동을 관리하기 위해 Solar Simplified와 협력하여, 고객 유치, 등록 및 관리 등을 포함하며, 프로젝트의 완전한 구독과 첫날부터 최대 수익을 보장합니다. 개발은 필요한 허가, 커뮤니티 태양광 계약, 제3자 자금 조달 및 건설 관련 위험을 확보하는 데 여전히 의존합니다.
SolarBank (NASDAQ: SUUN) a annoncé des progrès concernant son projet solaire North Main de 7,2 MW DC, situé dans le comté de Wyoming, New York. Le projet a terminé son Examen d'Interconnexion du Système Électrique Coordonné (CESIR) et passe à la phase de demande de permis pour le site.
À l'achèvement, l'installation fonctionnera comme un projet solaire communautaire, qui devrait alimenter environ 850 foyers. Le projet est éligible à des incitations dans le cadre du programme NY-Sun de la NYSERDA. Les membres de la communauté peuvent s'abonner pour recevoir des crédits sur leur facture d'électricité et accéder à de l'énergie renouvelable à des tarifs réduits sans avoir à installer de panneaux solaires personnels.
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 pleine souscription au projet et une maximisation des revenus dès le premier jour. Le développement reste soumis à l'obtention des permis nécessaires, des contrats de solaire communautaire, du financement par des tiers et des risques liés à la construction.
SolarBank (NASDAQ: SUUN) hat Fortschritte bei seinem 7,2 MW DC FreiflächenNorth Main Solar-Projekt im Wyoming County, New York, bekannt gegeben. Das Projekt hat seine Koordinierte Überprüfung der elektrischen Systemverbindung (CESIR) abgeschlossen und geht in die Phase der Standortgenehmigung über.
Nach Abschluss wird die Anlage als Gemeinschafts-Solarprojekt betrieben, das voraussichtlich etwa 850 Haushalte mit Strom versorgt. Das Projekt qualifiziert sich für Anreize im Rahmen des NY-Sun-Programms der NYSERDA. Mitglieder der Gemeinschaft können sich anmelden, um Gutschriften auf ihrer Stromrechnung zu erhalten und Zugang zu erneuerbarer Energie zu ermäßigten Preisen zu erhalten, ohne persönliche Solarpanels installieren zu müssen.
SolarBank hat sich mit Solar Simplified zusammengeschlossen, um kundenorientierte Aktivitäten wie Akquisition, Anmeldung und Verwaltung zu steuern, um eine vollständige Projektanmeldung und maximierte Einnahmen ab dem ersten Tag sicherzustellen. Die Entwicklung bleibt abhängig von der Erlangung der erforderlichen Genehmigungen, der Verträge für Gemeinschafts-Solarprojekte, der Drittfinanzierung und den Risiken im Zusammenhang mit dem Bau.
- Project completed important CESIR milestone
- Expected to power 850 homes
- Eligible for NYSERDA NY-Sun Program incentives
- Partnership with Solar Simplified ensures full subscription
- Offers customers discounted utility rates
- Project still requires permits and financing
- Development subject to multiple regulatory risks
- Dependent on continued government incentives
850 Homes Expected to be Powered by this Community Solar Project
Following receipt of the necessary permits and financing, the Company intends to commence construction of the Project, which upon completion, will be operated as a community solar project. The Project is expected to be eligible for incentives under the
The clean energy generated by community solar projects feeds directly into the local electricity grid, and depending on the size and number of panels in the community solar project, renters and homeowners can earn credits on their electric bill and save money from the electricity that is generated by a project. By subscribing to a project, community members can access the benefits of renewable energy without having to install panels on their home and access power at a discount to prevailing utility rates. SolarBank's strategic focus on community solar aligns with its goal of powering thousands of homes with clean and affordable energy.
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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/solarbank-provides-update-on-7-2-mw-north-main-project-in-wyoming-county-new-york-302390837.html
SOURCE SolarBank Corporation
FAQ
What is the capacity and location of SolarBank's (SUUN) new solar project?
How many homes will the SUUN North Main community solar project power?
What incentives is the SUUN North Main project eligible for?
What is Solar Simplified's role in SUUN's North Main project?
What are the next steps for SUUN's North Main solar project?
