SolarBank to develop 4.6 MW solar project in New York State

SolarBank (SUUN)plans to develop a 4.6 MW DC ground-mount solar power project known as the Stone Church project on a site located in Seneca County, New York. With a secured site lease and interconnection study underway, the Project is another key addition to SolarBank’s expanding development pipeline – which exceeds 1 GW – as well as the company’s commitment to advancing community solar. Assuming the Project’s interconnection study is successful, 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 New York State Energy Research and Development Authority NY-Sun Program. There are several risks associated with the development of the Project.