Developer SolarBank Corp. has received permitting to begin construction of its 5.9 MWdc community solar project in Manlius, New York, for Solar Advocate Development LLC.
SolarBank originated the site in Manlius and has completed an interconnection agreement with the utility company, and has obtained permits from the local authority having jurisdiction. Engineering and initial construction have commenced and the company has initiated procurement of major equipment. The company has also leveraged its strong relationships with Tier 1 suppliers to secure major equipment orders of solar panels, inverters, racking and transformers necessary for the project. The company will now continue to build the project for the owner to commercial operation via an engineering, procurement and construction (EPC) agreement. The EPC agreement has a total value of approximately $11.35 million.
Incentives for the project have been secured from New York State Energy Research and Development Authority (NYSERDA). NYSERDA also provides additional incentives to use these types of land, whether any hazard is real or perceived, because investment increases local tax bases, facilitates job growth, and improves and protects the environment, amongst other reasons.
“We are thrilled to build yet another community solar project,” said Dr. Richard Lu, CEO at SolarBank. “This project is among one of the largest that we have constructed to date and aligns with our focus on growing our business through the development of more and larger projects. We are excited to leverage our expertise and work collaboratively with all stakeholders to deliver a solar project that will contribute significantly to New York’s renewable energy goals.”
There are several risks associated with the development of the project. As disclosed in the company’s financial statements, the project is being challenged by neighboring residents to the site. The development of any project is subject to 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.
SolarBank is an independent renewable and clean energy project developer and owner focusing on distributed and community solar projects in the United States and Canada. The company develops solar projects that sell electricity to utilities, commercial, industrial, municipal and residential off-takers. The company has a potential development pipeline of more than 1 GW and has developed renewable and clear energy projects with a combined capacity of more than 70 MW built.
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